Stocks to buy: Sarda Energy to Orient Cement - Axis Securities bet on these shares for this week

Indian stock market: On Monday, Indian benchmark indices Sensex and Nifty opened higher, bolstered by gains in banking, financial, and auto stocks, following positive cues from Asian markets after China announced new measures to boost consumption. The BSE Sensex rose 290.59 points to open at 74,138.49, while the Nifty50 gained 82.35 points to start at 22,479.55.

By 10:28 a.m. IST, the Nifty 50 had increased by 0.38% to 22,482.8, and the Sensex had gained 0.41% to 74,128.68. Nine of the 13 major sectors logged gains, with broader small-cap and mid-cap indices also rising about 1% each.

Stocks to buy

Sarda Energy and Minerals: Buy at ₹543 | Target Price: ₹530-520 | Stop Loss: ₹489

SARDAEN has broken out of a Consolidation Zone between 520-405 on the weekly chart, confirmed by a strong bullish candle, signaling the continuation of a medium-term uptrend. While volume remained muted during the pattern formation, a sharp surge at the breakout highlights strong market participation, reinforcing its validity. The stock is holding above the 38.2% Fibonacci retracement level of the rally from 210-525, placed at 405, forming a solid support base. Additionally, the weekly RSI has crossed above its reference line and a downward-sloping trendline, confirming a buy signal.

Aavas Financiers: Buy at ₹1863 | Target Price: ₹1840-1804 | Stop Loss: ₹1735

AAVAS has formed a strong base around 1640 on the weekly chart, aligning with the 50% Fibonacci retracement of the 1307–1979 rally, and has rebounded sharply. The stock has been in accumulation since November 2024 and recently broke out of its consolidation zone between 1750 and 1640, signaling the start of a fresh uptrend. A surge in volume at the breakout highlights strong market participation, further validating the move. It closed above the upper Bollinger Band on the weekly timeframe, signaling increased upside momentum. The weekly RSI is trending upward, holding above its reference line, further reinforcing the positive outlook.

Orient Cement: Buy at ₹348 | Target Price: ₹345-338 | Stop Loss: ₹323

A strong bullish candlestick confirms that ORIENTCEM has broken out of a multiple resistance zone around 346, signaling the start of an uptrend. The stock is trading above its key shortand medium-term moving averages (20-, 50-, 100-, and 200-day), reflecting a positive bias. On the daily chart, the stock is forming higher highs and higher lows, indicating a positive bias in the short term. Additionally, the weekly RSI has crossed above its reference line and a downward-sloping trendline, confirming a buy signal. Analysis indicates an upside of 379-389 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.