Stock Picks This Week: Buy APL Apollo; Sell IEX, Hero MotoCorp, says Axis Securities
1/4
Trade Setup
After a washout last week, where the Nifty ended 2.5% lower, the current week may see the 50-stock index trade in a broad range of 25,600–24,600 with a negative bias, according to an Axis Securities note. The weekly RSI is trending lower and remains below its reference line, indicating continued bearish momentum. Rajesh Palviya, SVP Research Head – Technical & Derivatives, has three stock recommendations, two of which are ‘Sell’. Check details:
2/4
Buy APL Apollo Tubes at Rs 1,970-1,932
Upside: 10%–12%
Stop Loss: Rs 1,855
On the weekly chart, APLAPOLLO delivered a decisive breakout above the 1,945 level, completing a rounded bottom pattern and signalling the start of a medium-term uptrend. The stock continues to print a higher high–higher low structure and sustains above its rising trendline, reinforcing the bullish setup.
(Rajesh Palviya, Axis Securities)
Stop Loss: Rs 1,855
On the weekly chart, APLAPOLLO delivered a decisive breakout above the 1,945 level, completing a rounded bottom pattern and signalling the start of a medium-term uptrend. The stock continues to print a higher high–higher low structure and sustains above its rising trendline, reinforcing the bullish setup.
(Rajesh Palviya, Axis Securities)
3/4
Sell IEX at Rs 127-131 | Downside: 12% – 19%
Stop Loss: 137
On the weekly chart, Indian Energy Exchange has been in a strong downtrend since Jun’25. However, between August 25 and the present, the stock witnessed a countertrend move within a rising channel. Momentum indicators validate the weakness, as the weekly RSI has broken below its upward-sloping trendline and slipped below its reference line. The target is Rs 113-104 levels.
(Rajesh Palviya, Axis Securities)
On the weekly chart, Indian Energy Exchange has been in a strong downtrend since Jun’25. However, between August 25 and the present, the stock witnessed a countertrend move within a rising channel. Momentum indicators validate the weakness, as the weekly RSI has broken below its upward-sloping trendline and slipped below its reference line. The target is Rs 113-104 levels.
(Rajesh Palviya, Axis Securities)
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4/4
Sell Hero MotoCorp at Rs 5,400-5,508
Downside: 13%–16%
Stop Loss: Rs 5,820
On the weekly chart, HEROMOTOCO decisively broke below the medium-term upward-sloping trendline at 5,652, forming a strong bearish candle, which signals a negative bias. Both daily and weekly RSIs are trending lower and remain below their respective reference lines. The target is Rs 4,730-4,600 levels.
(Rajesh Palviya, Axis Securities)
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
Stop Loss: Rs 5,820
On the weekly chart, HEROMOTOCO decisively broke below the medium-term upward-sloping trendline at 5,652, forming a strong bearish candle, which signals a negative bias. Both daily and weekly RSIs are trending lower and remain below their respective reference lines. The target is Rs 4,730-4,600 levels.
(Rajesh Palviya, Axis Securities)
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)