Stocks to buy or sell: Airtel to Infosys – Axis Securities bets on these three shares for this week | Stock Market News
Source: Live Mint
Indian stock market: Market indices Sensex and Nifty declined by nearly half a percent, pressured by losses in oil & gas and financial services stocks, as global trade concerns kept investor sentiment cautious, on March 3. Despite opening higher in an attempt to recover from their longest monthly losing streak since 1996, the indices lost momentum.
At 11:50 AM, the Sensex had dropped by 330 points (0.5%) to 72,865, while the Nifty was down 100 points (0.5%) at 22,015.
The Nifty 50 reached its record high of 26,277.35 on September 27 last year. With Monday’s low of 22,005, the index has dropped by 4,273 points, marking a decline of over 16 per cent from its peak. Meanwhile, the Sensex has fallen by nearly 13,200 points, or 15%, from its all-time high of 85,978.25 to Monday’s low of 72,784.54.
Amid market reeling, brokerage firm Axis Securities has recommended three shares to buy or sell this week – Bharti Airtel, Infosys and Cholamandalam Financial Holdings.
Buy or sell stocks
Bharti Airtel: Sell at ₹1590-1620 | Stop Loss: ₹1665 | Downside: 7%–9%
BHARTIARTL has broken below the Symmetrical Triangle pattern at 1600 on the weekly chart, confirmed by a strong bearish candle, signaling the beginning of a downtrend. This breakdown reflects a shift in market sentiment, increasing the likelihood of extended weakness. On the daily chart, the stock has also breached the Head and Shoulders neckline—a well-known bearish reversal pattern—reinforcing a negative shortterm bias. Additionally, the stock has slipped below the 20-week Simple Moving Average (SMA), indicating deteriorating momentum and weakening price structure.
Infosys: Sell at ₹1725-1760 | Stop Loss: ₹1813 | Downside: 8%–11%
INFY has breached the horizontal support at 1732 on the weekly chart with a strong bearish candle, confirming the onset of a downtrend. As per the principle of polarity in technical analysis, this breakdown level is now expected to act as stiff resistance. Adding to the bearish structure, the stock has formed a weekly gap between 1880 and 1778, likely serving as a mediumterm resistance zone. Furthermore, Stock has closed below the lower Bollinger Band on the weekly timeframe, generating a sell signal and highlighting increased downside pressure. The weekly RSI continues to trend downward, staying below its reference line and a downward-sloping trendline, reinforcing the negative bias.
Cholamandalam Financial Holdings: Buy at ₹1625-1593 | Stop Loss: ₹1500 | Upside: 14% –17%
CHOLAHLDNG has found support at the 61.8% Fibonacci retracement level of its rally from 989 to 2155, stabilising around 1432 before rebounding sharply— indicating the potential onset of an uptrend. On the daily chart, the stock has formed an Inverted Head and Shoulders pattern, a classic bullish reversal setup, reinforcing optimism for further upside. Additionally, the stock is trading above key short- and medium-term moving averages (20-, 50-, 100-, and 200-day), strengthening its positive bias and sustained momentum. The weekly RSI remains above its reference line. Additionally, the stock has broken out of its consolidation zone, reaffirming bullish momentum and reinforcing the potential for further upside. Analysis indicates an upside of 1827-1885 levels.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
