Stocks In Focus As Nifty Lacks Momentum: Why These 3 Picks Deserve A Spot On Your Radar?

According to Axis Securities' analysis, the US and India CPI data for February 2025 helped some recovery in both the Indian and global markets. While the Nifty began the week flat but stayed mostly consolidated within the 22677-22315 range, the Bank Nifty began the week negatively and remained range-bound, indicating a lack of momentum. These three stocks have the potential to produce strong gains this week as markets stabilise and the Nifty and Bank Nifty remain range-bound while certain stocks exhibit breakouts.

Nifty Outlook This Week

"On the weekly chart, the index formed a small bearish candle with shadows on both sides, signaling indecisiveness among market participants. For the past three weeks, Nifty has struggled to cross 22750, a key resistance zone. A decisive close above this level could drive the index toward the upper band of the falling channel near 23200. On the downside, the 22000-21800 zone remains a critical support area. If Nifty sustains above 22750, buying momentum could drive it towards 23000-23200. Conversely, a break below 22250 could trigger selling pressure, pulling the index towards 22000-21800. For the week, we expect Nifty to trade within the 23200-21800 range with a mixed bias. The weekly RSI remains flat, indicating a lack of strength," said the research analysts of Axis Securities.

Weekly Bank Nifty Outlook

"On the weekly chart, a small bearish candle with shadows on both sides formed, signaling indecisiveness. The index is holding above 47850, aligned with the 78.6% Fibonacci retracement of the 46078-54467 rally and a recent swing low. Holding this level could trigger a rebound, but a decisive close above the downward-sloping trendline from mid-December 2024, placed at 48600, is crucial for confirmation. A break below 47850 would weaken the structure, breaking nine-week support and triggering strong selling. If Bank Nifty sustains above 48600, buying momentum could drive it towards 48750-49000. Conversely, a break below 47700 could lead to selling pressure, pulling the index towards 47500-47000. For the week, we expect the index to trade within the 49000-47000 range with a mixed bias. The daily and weekly RSI has turned flat, indicating a lack of strength," the technical research analysts Rajesh Palviya | Vaishnavi Jagtap | Rayyan Kuwari of Axis Securities commented on Monday.

Stocks To Buy This Week

These are Axis Securities' top 3 technical recommendations with a buy rating that are worthy of being on your radar this week due to their significant potential for growth.

Sarda Energy & Minerals

CMP: 543, Buy Range: 530-520, Stop loss: 489, Target: 595-615, Holding Period: 3 to 4 weeks

SARDAEN has broken out of a Consolidation Zone between 520-405 on the weekly chart, confirmed by a strong bullish candle, signaling the continuation of a medium-term uptrend. While volume remained muted during the pattern formation, a sharp surge at the breakout highlights strong market participation, reinforcing its validity. The stock is holding above the 38.2% Fibonacci retracement level of the rally from 210-525, placed at 405, forming a solid support base. Additionally, the weekly RSI has crossed above its reference line and a downward-sloping trendline, confirming a buy signal.

Aavas Financiers

CMP: 1863, Buy Range: 1840-1804, Stop loss: 1735, Target: 1996-2055, Holding Period: 3 to 4 weeks

AAVAS has formed a strong base around 1640 on the weekly chart, aligning with the 50% Fibonacci retracement of the 1307-1979 rally, and has rebounded sharply. The stock has been in accumulation since November 2024 and recently broke out of its consolidation zone between 1750 and 1640, signaling the start of a fresh uptrend. A surge in volume at the breakout highlights strong market participation, further validating the move. It closed above the upper Bollinger Band on the weekly timeframe, signaling increased upside momentum. The weekly RSI is trending upward, holding above its reference line, further reinforcing the positive outlook.

Orient Cement

CMP: 348, Buy Range: 345-338, Stop loss: 323, Target: 379-389, Holding Period: 3 to 4 weeks

A strong bullish candlestick confirms that ORIENTCEM has broken out of a multiple resistance zone around 346, signaling the start of an uptrend. The stock is trading above its key short-and medium-term moving averages (20-, 50-, 100-, and 200-day), reflecting a positive bias. On the daily chart, the stock is forming higher highs and higher lows, indicating a positive bias in the short term. Additionally, the weekly RSI has crossed above its reference line and a downward-sloping trendline, confirming a buy signal.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision