Stocks to buy: Axis Bank, HUL and LTIMindtree on investors’ radar

Stocks that were in focus include names like Axis Bank, which fell 0.89% and Hindustan Unilever, which rose 1% and LTIMindtree, whose shares rallied 5% on Wednesday.

Here’s what Riyank Arora, Technical Analyst at Mehta Equities, recommends investors should do with these stocks when the market resumes trading today.

Axis Bank

Axis Bank is doing well and showing strength on the charts. It has been making higher highs and higher lows, which is a good sign of an uptrend. If the stock manages to cross above Rs 1220 with good volume, it can move up towards Rs 1250 and even Rs 1275 in the short term.

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The technical indicators like RSI also support the bullish momentum. The stock is comfortably placed above its key moving averages, which adds to its positive setup. However, for any short-term weakness, Rs 1175 is an important support level. As long as it holds above that, the trend remains strong.

Hindustan Unilever

HUL is currently moving sideways, trading within a narrow range. It is facing resistance near Rs 2450–2470. If the stock breaks above this zone with strong buying interest, it can move up to Rs 2520 and then Rs 2550. On the downside, Rs 2380 is a key support level and should be watched closely.Right now, the stock is not giving clear signs of a strong move, so it may be better to wait for a breakout before entering. Overall, the trend is neutral to slightly positive, and a breakout will decide the next move.

LTIMindtree

LTIMindtree has been under some pressure lately and has seen a short-term correction. However, it is now near a strong support zone around Rs 4480–4500. If the stock holds above this level, it could bounce back towards Rs 4700–4800 in the coming days. The RSI indicator is close to oversold levels, which means the stock might be ready for a recovery if buyers step in.

But if it falls below Rs 4480, more weakness could follow. This stock is suitable for traders looking to buy near support with a tight stop-loss for a quick upside.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)