Meanwhile, looking at the short-term, if the Nifty breaks through the 21,850 level, it could touch the 22,000 level or above in the first week of January itself, said Rajesh Palvia of Axis Securities, a leading domestic brokerage firm. Similarly, if the Bank Nifty manages to cross the 48,450 level, it can advance to the 49,000 level in the first week of the new year itself, he said. Below are three buyable stocks heading into the new trading week.
Bajaj Auto
The shares of Bajaj Auto, the country’s leading automobile company, are on the way to progress. A look at the stock’s charts over various timeframes suggests a bullish trend overall. Bajaj Auto stock closed at Rs 6,820 last week. Rajesh Palvia of Axis Securities said that from here, the stock could rise to Rs 6,920 to Rs 6,950 level next week. He also advised buyers of Bajaj Auto (BSE : 532977, NSE : BAJAJ-AUTO) shares to set a stop loss at Rs 6,750.
Jindal Steel & Power
The shares of Jindal Steel and Power, a major steel producer operating in the country’s private sector, closed at Rs 747 last day. Rajesh Palvia of Axis Securities said that the share price will increase to Rs 780 from here. He said current buyers of Jindal Steel and Power (BSE : 532286, NSE : JINDALSTEL) should set a stop loss at Rs 735. Rajesh Palvia pointed out that the rollover data in the derivatives segment of the stock is giving a positive sign.
Acc
Shares of major cement maker and Adani Group company ACC closed at Rs 2,208 last week. Axis Securities’ Rajesh Palvia said that the stock could make a breakout jump to Rs 2,270 from here. He also advised buyers of ACC (BSE : 500410, NSE : ACC ) shares to set a stop loss at Rs 2,165.
(DISCLAIMER : The advice regarding share investment is given by Axis Securities on its own basis. Times Internet has no role in this. Stock investment is subject to market fluctuations. Before investing, you can seek the services of SEBI approved financial experts.)
