Stock Picks for the Week

  • Stock Market Analysis

Indian markets have witnessed range bound movement this week tracking cues from global markets. With no major event on the domestic front, Indian markets are expected to follow their global peers. Nifty support lies at 15,550 and 15,450. Bank Nifty support lies at 34,400 and 33,900. Nifty is likely to face resistance at 15,900 and 16,100. Bank Nifty is likely to witness resistance at 35,600 and 35,800. Investors are advised to keep their focus on stock selection and take advantage of dips to build up positions in fundamentally good stocks.

Here are few top picks for the week:

1. BUY: Aarti Drugs Ltd (NS: ADRG ) (ABOVE - 735)


This stock has formed a bullish engulfing pattern on its weekly charts and indicating reversal from its support level. It is trading above its important moving averages. Any breakout above the level of 735 would add further upward momentum to the stock. Therefore, we recommend initiating buy position above 735 with a stop loss of Rs. 701 and a target of Rs.775.

2. BUY:  BASF India Ltd (NS: BASF ) (ABOVE – 2641)

TARGET: 2720

This stock has given a trend line breakout on its daily charts and has witnessed good amount of consolidation. Any breakout above 2641 is expected to add upward momentum to the stock.  We recommend initiating buy position above 2641 with a stop loss of Rs. 2580 and a target of Rs. 2720.

Disclaimer: The analyst does not hold a position in any of the stocks mentioned above.

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  • narayanan ramachandran @narayanan ramachandran
    ofcourse it didn't touch your buy price. nice judgement
    Like 0
  • narayanan ramachandran @narayanan ramachandran
    wah BASF was too good. aarti though doesnt look so good on daily,monthly n weekly. let's see😃😃
    Like 1
    Like 0
  • ayyappan srinivasan @ayyappan srinivasan
    thanks sir
    Like 1

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