Stocks to buy this week: RIL, DLF, Bajaj Finance, Titan among 12 technical picks; do you own any?
Nifty 50, Sensex decline on Israel-Hamas war: 5 factors that weigh on market sentiment On Monday, Nifty 50 opened at 19,539.45 against the previous close of 19,653.50 and fell 0.90 per cent to the day's low of 19,480.50 while the Sensex opened at 65,560.07 against the previous close of 65,995.63 and fell 0.85 per cent to the day's low of 65,434.61 in Monday's trade so far. Last week, the Nifty formed a small bullish candle with a lower shadow on the weekly chart, indicating buying near the 20-weekly simple moving average.
"The chart pattern indicates that if Nifty crosses and sustains above the 19,750 level, it could witness buying, leading to the index towards 19,900-20,000 levels. However, if the index breaks below the 19,500 level, it could witness selling, taking it towards 19,350-19,200," said brokerage firm Axis Securities.
The brokerage firm expects Nifty to trade in the range of 20,000-19,200 with a positive bias for the week. Experts say investors should be cautious in the short term and follow a stock-specific approach.
Based on the recommendations of experts and brokerage firms, below are 12 stocks that one may consider buying for the next three to four weeks as they look sound on technical parameters. Take a look: (Exciting news! Mint is now on WhatsApp Channels.
Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) On the weekly chart, Mahindra Holidays has successfully broken out above a consolidation zone, ranging from ₹420-390, accompanied by a sizable bullish candle, which signifies the continuation of the uptrend. The stock, currently trading within a rising channel, found support at the lower band and is now trending towards the upper band, indicating a
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