Sensex, Nifty In Strong Rally: Axis Securities Recommend BUY On 3 Stocks This Week; Do You Own?

The Indian stock market continued its bullish movement on Monday after recording its biggest ever weekly gains in last three years. Out of all the indices, Nifty 50 opened on a strong note as it jumped above 23500 points, whereas BSE Sensex kicked off the trading session with a gain of 500 points.

Nifty 50 closed 1.32% higher at 23658.35 points, whereas BSE Sensex jumped 1078 to close at 77,984 points.

As the stock market rally indicates boosted investor sentiment, the Nifty 50 is likely to trade within the range of 24,000-22,600 while maintaining a positive undertone during this week, according to Axis Securities analysis.

Bank Nifty Index Outlook

Nifty Bank surged over 2% to touch its highest level in calendar year 2025 before closing at 51704 points. The thematic index was among the top performing indices on NSE on Monday.
According to Axis Bank's stock market analysis for this week, "a sustained move above 50650 could trigger fresh buying, taking the index towards 51,000-51,800."

The recent surge in stock market indices has come in the backdrop of continued foreign institutional investors (FII) and domestic institutional investors (DII) selling, US Fed's dovish stance on rate cut, and domestic currency's recovery against US dollar. As the Indian stock market have started the week on a bullish note, here's Axis Securities' analysis for top technical picks of the week.

Top technical picks for stock market this week

Company	CMP	Buy Range	Stop Loss	Upside (%)
Coal India Ltd.	405.85	400-390	378	9%-14%
Mazagon Dock Shipbuilders Ltd.	2653.75	2535-2485	2370	11% -15%
LIC Housing Finance Ltd.	578	560-550	522	12%-16%

Coal India

Shares of the Indian public sector undertaking have increased over 11.24% in last one month. The company stock's value has increased over 5.01 year to date (YTD). Coal India shares have been in accumulation since December 2024 and recently their share value broke out its consolidation zone between 400 and 350. The stock movement signals an a fresh uptrend, highlighted Axis Securities in its technical analysis.

Coal India stock was trading at a nominally lower margin of Rs 405.85 per share on BSE during Monday's intraday trade.
"A sustained move above 400 could accelerate momentum, paving the way for further upside. The weekly RSI is trending upward, holding above its reference line, which further reinforces the positive outlook," said Axis Securities in its technical analysis, underlining an upside of 429-449 levels.

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Mazagon Dock Shipbuilders Ltd.

The company's stock value has increased by 23.3% in last one month and over 18.23 year to date (YTD). Mazagon Dock Shipbuilders shares closed 2.5% higher at Rs 2653.75 per share on BSE on Monday.

"A strong bullish candlestick confirms that MAZDOCK has broken out of a descending triangle pattern at 2500, thereby confirming the continuation of its medium-term uptrend," underlined Axis Securities indicating an upside of 2,790- 2,885 levels this week.

Mazagon Dock Shipbuilders has been in consolidation since mid-July 2024 and the pattern breakout
"indicates a shift in trend, setting the stage for an extended rally. Trading above its key short- and
medium-term moving averages (20, 50, 100, and 200-day) indicates a firm bullish bias."

LIC Housing Finance Limited

The Indian housing finance major's share value performance has created a strong bullish candlestick, which will mark the beginning of an uptrend.

"The stock has established a strong support base above the 61.8% Fibonacci retracement level of its 313-827 rally, holding firm at 514. A sharp rebound from the lower weekly Bollinger Band suggests a move towards the upper Bollinger Band, reinforcing the bullish outlook," said Axis Securities in its evaluation and has indicated an upside level of 621-645 levels.

The stock closed 1.14% higher at Rs 578 per share on BSE on Monday. LIC Housing Finance Limited stock value has increased over 7.61% in one month and has declined over 3.73 year to date (YTD).