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Business News/ Markets / Stock Markets/  Stocks to Buy -Maruti Suzuki , JSW Energy among 4 weekly technical stock picks by Axis Securities
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Stocks to Buy -Maruti Suzuki , JSW Energy among 4 weekly technical stock picks by Axis Securities

Stocks to Buy -Maruti Suzuki , JSW Energy , Cummins India Ltd, PB Fintech are among 4 weekly technical picks by Axis Securities. The holding period for these stocks stands between 3-4 weeks for an upside ranging from 7% and up to 19% for certain stocks.

Stocks to Buy -Maruti Suzuki , JSW Energy, Cummins India, PB Fintech are 4 weekly technical picks by Axis Securities (REUTERS)Premium
Stocks to Buy -Maruti Suzuki , JSW Energy, Cummins India, PB Fintech are 4 weekly technical picks by Axis Securities (REUTERS)

Stocks to Buy -Maruti Suzuki India Ltd , JSW Energy Ltd , Cummins India Ltd, PB Fintech (policy Bazaar) are among 4 weekly technical picks by Axis Securities to buy this week.

For Maruti Suzuki India that is trading at close to 12436 levels, the buy range recommended by Axis Securities is between 12200- 11960, for an upside of 7-9%.  The stop loss for Maruti Suzuki specified by Axis Securities stands at 11650. The target price indicated by Axis for Maruti stands between 12940-13200 levels

As per the weekly chart, Axis securities observes that Maruti Suzuki has has broken out of a five-week 'Consolidation' zone that stood between 11730-11300. The same has been accompanied by a robust bullish candle on the chart of Maruti Suzuki that indicates towards the continuation of the medium-term uptrend for Maruti Suzuki Stock.

Following the breakout, the Maruti Suzuki stock continues its upward momentum and Maruti Suzuki stock  and is predicted to continue the momentum.

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JSW Energy -  For JSW Energy that is trading near 520 levels , the buy range recommended by Axis Securities is between 510-500.  The Stop loss for JSW Energy  recommended by Axis stands at   470 for an upside of 14%–17% for JSW Energy to 575-590 levels. The holding period recommended by Axis for JSW Energy is 3-4 weeks.

The daily chart shows that JSW Energy has broken above the 'Downward Sloping Trendline' at 505, indicating a positive bias said Axis Securities

As per the "Principle of Polarity," the stock found support at the horizontal level of about 450, which was previously acting as resistance for JSW Energy.

PB Fintech Ltd (Policybazaar) -  

For PB Fintech (Policybazaar) that is trading near 1136 levels , the buy range recommended by Axis Securities is between 1160-1138. The Stop loss for PB Fintech (Policybazaar) recommended by Axis stands at 1080 for an upside of 12%–17% for PB Fintech (Policybazaar) to 1285-1350 levels. The holding period recommended by Axis for PB Fintech (Policybazaar) is 3-4 weeks.

On the weekly chart, PB Fintech (Policybazaar) has exhibited a bullish breakout above the slight "Falling Channel" pattern around 1145, indicating a positive bias for PB Fintech (Policybazaar), said Axis Securities.

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Cummins India Ltd

For Cummins India that is trading near 2992 levels , the buy range recommended by Axis Securities is between 2920-2862. The Stop loss for Cummins India recommended by Axis stands at 2660 for an upside of 16% – 19% for Cummins India to Rs3355-3430 levels levels. The holding period recommended by Axis for Cummins India is 3-4 weeks.

Cummins India has come out out of the "Consolidation" zone, which spanned five weeks and was accompanied with a strong bullish candle that suggested the medium-term uptrend will continue for Cummins India.

Cummins India after finding support in the lower band of the medium-rise channel,  is currently trending within it and Cummins India stock is poised to climb towards the upper band.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions

 

 

 

 

 

 

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Published: 27 Mar 2024, 10:32 AM IST
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