Union Bank, Balrampur Chini & Aavas Financiers: Axis Securities shares weekly technical picks

Axis Securities said the benchmark Nifty50 saw profit booking around the 23,800 zone recently. For the week, the domestic brokerage expects the index to trade within a broader range of 24,250-23,000 while sub-index Nifty Bank could trade within the 53,000-50,700 zone. It also suggested weekly technical stock picks with a potential upside of up to 20 per cent.

Here are the three stock picks for this week by Axis:

1) Union Bank of India

Investors should 'buy' Union Bank shares in the Rs 124-120, keeping a stop loss of Rs 113 expecting a 15-20 per cent upside. "The stock is indicating an upside of Rs 140-146 levels (calculated at a market price of Rs 126). The holding period is 3 to 4 weeks," Axis stated.

2) Balrampur Chini Mills

One can consider buying Balrampur Chini shares in the Rs 545-535 range with a stop loss of Rs 513. "Our analysis indicates an upside towards Rs 594-613, hinting a 10–14 per cent upside (calculated at Rs 547 levels)," the broking firm mentioned.

3) Aavas Financiers

Market participants can 'buy' Aavas Financiers shares in the Rs 2,030-1,990 range while maintaining a stop of Rs 1,930. Axis said the counter can climb between 8 and 12 per cent and hit upside targets of 2,170-2,255 in the near term from Rs 2,084 level.

Meanwhile, domestic benchmarks tumbled on Monday amid worries over US President Donald Trump's fresh round of tariff announcements. The 30-share BSE Sensex pack cracked 1,390 points or 1.80 per cent to settle at 76,024 and the broader NSE Nifty index slumped 354 points or 1.50 per cent to close at 23,166.