Indian Bank To Aurobindo Pharma: 3 Technical Stocks To Buy/Sell This Week For Potential Upside Up to 15%

The brokerage company Axis Securities has released its weekly stock picks, and this week the stock selections are Aurobindo Pharma, The Great Eastern Shipping Company and Indian Bank. The potential upside in these stocks has been seen up to 15% by the brokerage.

Nifty Outlook This Week

"On the weekly chart, Nifty formed a sizable bearish candle, forming a lower high-low compared to the previous week. The index also closed below the previous week's low, indicating further weakness. With the current week's close, the index has violated the past five years' "upsloping trendline" support at 24,400 levels on a closing basis," commented the research analysts of Axis Securities.

"On the downside, immediate supports are placed at 22,900 and 22,800, and a sustained break below the same could trigger a deeper correction towards the 22,000 level. On the upside, the supply zones are placed around 23,800-24,400 levels. Meanwhile, the daily, weekly and monthly RSIs are trending downward and remain below their respective reference lines, reinforcing the prevailing negative bias in the near term," they further commented.

Bank Nifty Weekly Outlook

"On the weekly chart, the index has formed a long bearish candle with an upper shadow, indicating strong selling pressure at higher levels. The formation of a lower high-lower low structure compared to the previous week reflects prevailing weakness in the near-term trend. Technically, a decisive move above 55,000 could trigger a short-term relief rally, potentially pushing the index toward the 56,000-57,000 zone," commented the research analysts of Axis Securities.

"Conversely, a break below 53,500 may accelerate selling pressure, dragging the index toward 52,500-51,300 levels. The weekly RSI remains in the negative territory, below its reference line, reinforcing the cautious outlook," they further stated.

Stocks To Buy/Sell This Week

Here are the stocks to buy or sell this week with a holding period of 3 to 4 weeks as recommended by Axis Securities.

Aurobindo Pharma

Buy Range: 1280-1256, Stop Loss: 1195, Upside: 12%-15%

On the weekly chart, AUROPHARMA has delivered a decisive breakout above the horizontal channel that had been in place since Jan'25, breaching the 1,266 level with a strong bullish candle.

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.

The stock is trading well above its 20-, 50-, 100-, and 200-day SMAs, with these averages also trending upward alongside the price, further reaffirming the ongoing bullish trend.

The above analysis indicates an upside toward 1,414-1,455 levels.

The Great Eastern Shipping Company'

Buy Range: 1400-1370, Stop Loss: 1313, Upside: 10% - 12%

On the weekly chart, GESHIP continues to trend higher, forming a series of higher tops and bottoms representing a strong uptrend.

The stock has also broken above the horizontal resistance at 1,400 with a strong bullish candle supported by rising volumes, indicating renewed buying interest.

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

The daily and weekly "Bollinger Band" buy signals indicate increased momentum, reinforcing a positive outlook for the stock.

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

The above analysis indicates an upside toward 1,529-1,555 levels.

Indian Bank (March Futures)

Sell Range: 890-906, Stop Loss: 939, Downside: 9%-11%

On the daily chart, INDIANB has witnessed a short-term trend reversal as it has violated the past four months' "rising trendline" by a strong bearish candle, confirming a short-term down trend.

The breakdown is accompanied by rising volumes, indicating rising weakness. In addition, the stock is also sustaining below 20- and 50-day SMAs, which reconfirms bearish bias.

Momentum indicators remain bearish, with both the daily and weekly RSI reflecting negative sentiment. Additionally, the weekly RSI shows a negative divergence, highlighting increasing weakness in the stock.

The above analysis indicates a downside toward 818-800 levels.

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