Chennai Petroleum Corporation & 2 More: Top Stocks To Buy This Week With Holding Period of 3-4 Weeks

Based on technical analysis, brokerage Axis Securities has recommended 3 stocks to buy this week. The stock recommendations were made in the midst of increasing crude prices brought on by intensifying US-Iranian tensions and uncertainties around US trade tariffs.

Nifty Outlook This Week

"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.

Bank Nifty Outlook This Week

"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.

Stocks To Buy This Week

Here are the top 3 technical picks for the week as recommended by Axis Securities.

Glenmark Pharmaceuticals

Buy Range: 2110-2068, Stop loss: 2020, Upside: 7%-10%

On the weekly chart, GLENMARK has delivered a decisive breakout above the symmetrical triangle pattern formed since Jul'25, breaching the 2,100 mark with a strong bullish candle and confirming the continuation of the medium-term uptrend.

The breakout is further reinforced by a close above the weekly upper Bollinger Band, triggering a fresh buy signal and highlighting expanding momentum.

Momentum indicators remain firmly supportive. The weekly RSI has broken above its downward-sloping trendline and crossed its reference line, validating the strength of the price breakout and signalling sustained bullish traction.

The above analysis indicates an upside toward 2,227-2,300 levels.

The holding period is 3 to 4 weeks.

Tube Investments of India

Buy Range: 2725-2671, Stop loss: 2500, Upside: 15% - 22%

On the weekly chart, TIINDIA has staged a decisive breakout above the downward-sloping trendline in place since Oct'24, surpassing the 2,730 level with a strong bullish candle and signalling the onset of a medium-term uptrend.

The move is backed by a sharp surge in volumes, underscoring strong market participation and conviction behind the breakout.

Further strength is evident as the stock has closed above the daily upper Bollinger Band, triggering a fresh short-term buy signal.

Additionally, the weekly RSI has crossed above its reference line, reinforcing positive momentum and strengthening the overall bullish outlook.

The above analysis indicates an upside toward 3,093-3,300 levels.

The holding period is 3 to 4 weeks.

Chennai Petroleum Corporation

Buy Range: 945-926, Stop loss: 877, Upside: 13%-15%

On the weekly chart, CHENNPETRO continues to trade within a well-defined rising channel. The stock recently rebounded from the lower band of the channel and is now advancing toward the upper band, indicating sustained upward momentum.

Additionally, the stock has formed a solid medium-term base near the 50% Fibonacci retracement of the Mar'25- Nov'25 rally, placed around 770, followed by a sharp and decisive bounce.

Momentum indicators further strengthen the outlook, with the weekly RSI crossing above both the 50 mark and its reference line, reinforcing the prevailing bullish sentiment and signalling potential for continued upside.

The above analysis indicates an upside toward 1,053-1,080 levels.

The holding period is 3 to 4 weeks.

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