Stocks to buy this week: Wipro, Kotak Mahindra Bank, PNB among nine technical picks; do you own any?

livemint.com:

Nifty traded in the negative territory in morning trade on Monday, mirroring weakness in other major Asian peers as investors exhibited caution as they prepared for a week marked by a series of central bank meetings with Fed meet outcome due on Wednesday, Bank of England (BoE) meet outlook on Thursday and Bank of Japan (BoJ) outcome due on Friday. Markets across the globe are expecting that the rate hikes have peaked and central banks will not lift rates from here on. However, inflation still remains above the central banks' targets in many countries.

In simple terms, the war against inflation is not over yet. Last Thursday (September 14), the European Central Bank (ECB) raised its key interest rate to a record high of 4 per cent but signalled that the hike could be the last one. "The European Central Bank raised its key interest rate to a record high of 4 per cent on Thursday but, with the eurozone economy in the doldrums, signalled that the hike, its 10th in a 14-month-long fight against inflation, was likely to be its last," reported Reuters.

Analysts are positive about the domestic market for the medium to long term but they expect some volatility in the market in the short term. They advise following a stock-specific approach at the current juncture. Mint talked to several analysts and they recommended buying the below nine stocks for the next three to four weeks as they look sound on technical parameters.

Take a look: Lately, Nifty IT has recently been one of the strongest and most consistent major sectors. The fresh breakout on the weekly charts not only pushed the index higher but gave a fresh thrust to many of the large-cap stocks. Wipro is one of the lucrative large-cap IT stocks to come out of consolidation.