3 Breakout Stocks To Buy This Week: Check Technical Outlooks From Target Price To Stop-Loss

The brokerage firm Axis Securities has recommended 3 stocks to buy this week based on technical analysis. The weekly stock recommendations include Karnataka Bank, Astra Microwave Products and Aditya Birla Sun Life AMC. On these stocks, Axis Securities has seen healthy potential upsides of up to 18% in a timeframe of 3 to 4 weeks.

Nifty Outlook This Week

"On the weekly chart, Nifty has formed a long-legged spinning top, signalling indecision as the index hovers near the crucial horizontal support and the bullish gap zone of 24,164-24,379, formed on 12th May 2025. Technically, the index continues to trade within a falling channel and remains below its 200-day SMA, placed at 25,344, indicating a cautious undertone," commented the research analysts of Axis Securities.

"For bulls to regain control, a decisive move above the bearish gap zone of 25,000-25,141 formed on 2nd March 2025 is essential. On the downside, immediate supports are placed at 24,300 and 24,000, and a sustained break below 24,000 could trigger a deeper correction. Meanwhile, the weekly RSI is trending downward and remains below its reference line, reinforcing the prevailing negative bias in the near term," they further added.

Bank Nifty Outlook This Week

"On the weekly chart, the index has formed a long bearish candle with an extended upper shadow, indicating strong selling pressure at higher levels. The formation of a lower high-lower low structure compared to the previous week further highlights prevailing weakness in the near-term trend," commented the research analysts of Axis Securities.

"Technically, a decisive move above 58,000 could trigger fresh buying interest, potentially pushing the index toward the 58,400-59,000 zone. Conversely, a break below 57,500 may accelerate selling pressure, dragging the index toward 57,150-56,800 levels. The weekly RSI remains in the negative territory, below its reference line, reinforcing the cautious outlook," they recommended.

Stocks To Buy This Week

Here are the 3 technical stock picks for the week by Axis Securities.

The Karnataka Bank

Buy Range: 214-210, Stop loss: 198, Target: Rs 240-248 levels

On the weekly chart, KTKBANK has delivered a decisive breakout above the falling channel that had been in place since Jan'24, breaching the 212 level with a strong bullish candle and signalling the onset of a medium-term uptrend.

The breakout is supported by a sharp surge in volumes, highlighting strong market participation and conviction behind the move.

Momentum indicators remain firmly supportive, with the weekly RSI breaking above the multiple resistance zone near 60 and crossing its reference line, validating the strength of the price action and reinforcing the bullish outlook.

Sustained trading above the 212 breakout level is likely to attract fresh buying interest and pave the way for further upside in the medium term.

Astra Microwave Products

Buy Range: 1020-1000, Stop loss: 943, Target: Rs 1,145-1,180 levels

On the weekly chart, ASTRAMICRO continues to trade within a well-defined rising channel. The stock has recently rebounded from the lower band of the channel and is now advancing toward the upper band, signalling sustained upward momentum.

The stock has also broken above the horizontal resistance at 1,019 with a strong bullish candle supported by rising volumes, indicating renewed buying interest.

Further strength is reflected as the price remains well above its key 20, 50, 100, and 200-day SMAs, highlighting a robust bullish structure.

Momentum indicators remain supportive, with the weekly RSI crossing above its reference line, reinforcing positive momentum.

Aditya Birla Sun Life AMC

Buy Range: 920-900, Stop loss: 845, Target: Rs 1,035-1,070 levels.

On the weekly chart, ABSLAMC has delivered a decisive breakout above the 925 level from a Cup and Handle pattern that had been forming since Dec'24, marked by a strong bullish candle, confirming the continuation of the medium-term uptrend.

The breakout is further validated by a close above the weekly upper Bollinger Band, generating a fresh buy signal and indicating expanding price momentum.

Momentum indicators remain supportive, with the weekly RSI crossing above both the 50 mark and its reference line, signalling strengthening bullish momentum. In addition, the RSI has broken out of an inverted Head and Shoulders pattern, reinforcing the positive sentiment and validating the strength in price action.

Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred to as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.