Stocks to buy this week: Bharti Airtel, Bharat Forge, DMart, Tata Teleservices among 12 technical picks; do you own any?
Axis Securities, the chart pattern suggests that if the Nifty crosses and sustains above 19,900, it would witness buying which would lead the index towards 20,000-20,200 levels. However, if the index breaks below the 19,650 level, it would witness selling, which would take the index towards 19,500-19,400, Axis Securities said. The brokerage firm pointed out that the weekly strength indicator RSI continues to remain flat, indicating the absence of strength.
However, the momentum oscillator Stochastic has turned positive from the oversold zone, indicating a possible up move in the near term. For the week, Axis Securities expects Nifty to trade in the range of 20,200-19,400 with a mixed bias. The market is expected to remain volatile in the short term due to prevailing uncertainty.
Experts recommend buying technically and fundamentally sound stocks at the current juncture. Based on the recommendations of several experts, below are 12 stocks that one can consider buying for the next three to four weeks. Take a look: (Exciting news! Mint is now on WhatsApp Channels. Subscribe today and stay updated with the latest financial insights! Click here!) On the weekly chart, Bharti Airtel has convincingly broken through the consolidation zone ranging from ₹960 to ₹902, propelled by a robust bullish candlestick pattern, affirming the continuation of the medium-term uptrend.
The stock is currently following a rising channel formation in the medium term finding support at the lower band of the channel recently and rebounding, indicating a potential move towards the upper band. The weekly strength indicator RSI has given a crossover above its reference line, generating a buy signal. Also Read: Adani Power, Adani Ports to Adani
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