Axis Securities Weekly Stock Picks: Glenmark, Tube Investments and Chennai Petroleum Set Up for Near-Term Moves

Axis Securities has shared three technical stock calls for the week. The list includes Glenmark Pharmaceuticals, Tube Investments of India, and Chennai Petroleum Corporation. Each idea comes with a buy range, stop loss, and an upside target. The brokerage based these picks on chart patterns and momentum signals.

The calls came as crude prices rose amid US-Iranian tensions. Markets also faced uncertainty around US trade tariffs. Along with stock ideas, Axis Securities outlined key levels for Nifty and Bank Nifty. The brokerage focused on weekly charts, moving averages, and momentum indicators for its view.

"On the weekly chart, Nifty formed a long bearish candle with a lower high-lower low structure, signalling weakness at current levels. The index continues to trade within a falling channel and has slipped below its 200-day SMA at 25,350. A swift recapture of this level could trigger a relief pullback towards 25,500 and the 20-day SMA near 25,625," commented the research analysts of Axis Securities.

"On the downside, immediate support is seen at the bullish gap around 25,108, followed by the channel's lower band near 24,850. Sustained weakness may extend profit booking till 24,600. With daily and weekly RSI trending lower below their reference lines, the bias remains cautious; a decisive close above 25,500 is essential for bulls to regain control. The index is likely to continue trading within the falling channel, as ongoing profit booking may keep near-term momentum subdued," they further added.

"On the weekly chart, Bank Nifty formed a bearish candle with a long upper shadow, signalling selling pressure near the horizontal resistance zone of 61,800. Despite the consolidation and resistance at higher levels, Bank Nifty outperformed Nifty this week, reflecting relative resilience in the banking space. A sustained move above 60,600 could revive buying interest, paving the way towards 61,000-61,800. Conversely, a break below 60,200 may trigger fresh selling towards 60,000-59,500," stated the research analysts of Axis Securities.

"For the week ahead, Bank Nifty is expected to trade within the 61,800- 59,500 range. While the weekly RSI remains flat, indicating limited momentum, the rising Stochastic oscillator hints at a potential near-term recovery. Overall, a decisive breakout on either side of the range will set the tone for the next directional move," they further stated.

Axis Securities stocks to buy this week: Top technical picks

Axis Securities has set a 3 to 4 week holding period for all three picks. Glenmark Pharmaceuticals has a suggested buy range of 2110-2068. The stop loss is 2020, with 7%-10% upside. Tube Investments of India has a buy range of 2725-2671, stop loss 2500, and 15% - 22% upside.

Chennai Petroleum Corporation has a buy range of 945-926. The stop loss is 877, with 13%-15% upside. Axis Securities expects Glenmark Pharmaceuticals to rise towards 2,227-2,300. Tube Investments of India has an upside zone of 3,093-3,300. Chennai Petroleum Corporation has an upside band of 1,053-1,080.

Stock	Buy range	Stop loss	Upside	Upside levels	Holding period
Glenmark Pharmaceuticals	2110-2068	2020	7%-10%	2,227-2,300	3 to 4 weeks
Tube Investments of India	2725-2671	2500	15% - 22%	3,093-3,300	3 to 4 weeks
Chennai Petroleum Corporation	945-926	877	13%-15%	1,053-1,080	3 to 4 weeks

On charts, Glenmark Pharmaceuticals has broken above a symmetrical triangle formed since Jul'25. Axis Securities noted the move cleared 2,100 with a bullish weekly candle. The stock also closed above the weekly upper Bollinger Band. The weekly RSI broke its falling trendline and moved above its reference line, supporting the uptrend view.

For Tube Investments of India, Axis Securities tracked a break above a falling trendline in place since Oct'24. The price crossed 2,730 with a strong weekly candle and higher volumes. The stock also closed above the daily upper Bollinger Band. The weekly RSI moved above its reference line, which the brokerage read as positive momentum.

Axis Securities said Chennai Petroleum Corporation stayed within a rising channel. The stock bounced from the channel’s lower band and moved towards the upper band. The brokerage also flagged a base near the 50% Fibonacci retracement level around 770. That retracement was measured from the Mar'25- Nov'25 rally, followed by a sharp bounce.

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Axis Securities has tied its weekly stock ideas to defined entry ranges and risk levels. The brokerage has also flagged key Nifty and Bank Nifty zones to watch. With crude prices rising and global policy risks present, the near-term tone stayed cautious in the outlook. The three picks kept a 3 to 4 week horizon, as stated.