Tech Mahindra, JSW Steel, Bajaj Finserv: Top stocks to buy next week: Expert

Top Stocks to Buy Next Week: Potential Buys for Strong Returns - Sumeet Bagadia

1. Tech Mahindra (₹1705.60): Buy, Target ₹1860, Stop Loss ₹1628

Tech Mahindra is showing strong bullish signs, with the stock currently trading at ₹1705.60. Over the past few months, the stock has consistently formed higher highs and lows, indicating a solid uptrend. A recent bullish candle formation, combined with increased trading volumes, further signals positive market participation.

Despite some recent pullbacks, Tech Mahindra bounced back from key demand zones, forming a classic Double Bottom pattern, a strong reversal signal. This pattern suggests that the upward trend is likely to continue.

The RSI is currently at 49.27, trending upward with a positive crossover, adding to the bullish outlook. The stock has also rebounded from its support levels and surpassed both short-term (20-day) and medium-term (50-day) EMAs, signaling renewed buying interest.

Recommendation: Buy at ₹1705.60, with a target of ₹1860. Place a stop-loss at ₹1628 to manage risk.

2. JSW Steel (₹900.10): Buy, Target ₹980, Stop Loss ₹860

JSW Steel is currently priced at ₹900.10 and has recently bounced back from a crucial support zone. This suggests that buying interest is emerging at these levels, offering a good entry point.

The RSI stands at 38.54 and has shown a positive reversal, supporting the potential for upward momentum. However, the stock is still trading below its key moving averages, including short-term (20-day), medium-term (50-day), and long-term (200-day) EMAs. A breakout above these levels would confirm a sustained bullish trend.

Recommendation: Buy at ₹900.10, with a target of ₹980. Set a stop-loss at ₹860. Watch for a breakout above key EMAs for confirmation.

3. Bajaj Finserv (₹1701.25): Buy, Target ₹1875, Stop Loss ₹1620

Bajaj Finserv is trading at ₹1701.25, following a period of sharp selling and subsequent consolidation. Recently, the stock broke out of this consolidation phase, signaling the potential for further upward movement. The breakout was accompanied by a significant increase in trading volumes, suggesting strong buying interest.

The RSI is at 62.09, indicating bullish momentum without reaching overbought territory, allowing further upside potential. Additionally, Bajaj Finserv is trading above all key moving averages, reinforcing the positive trend.

Recommendation: Buy at ₹1701.25, with a target of ₹1875. Place a stop-loss at ₹1620 for effective risk management.

Which Stock Shows the Highest Growth Potential This Week?

Tech Mahindra

JSW Steel

Bajaj Finserv

(Note: These stock recommendations are based on technical analysis and are subject to market conditions. Please consult with certified financial experts before making any investment decisions.)