Weekly Stocks: Motilal Oswal Recommends These 3 Shares to Buy This Week

Indian Stock Market Update: The Indian stock market saw a positive trend, with Sensex and the Nifty 50 closing higher for the third session in a row on Tuesday, May 14. Despite mixed signals from global markets, the Indian benchmarks rebounded after a nearly 2 percent decline last week. This rebound is supported by improved valuations and the optimistic outlook for India’s economic growth.

Nifty 50 Performance:

• Opened: 22,112.90 (up from previous close of 22,104.05)
• High: 22,270.05
• Low: 22,081.25
• Closed: 22,217.85 (up by 114 points or 0.51%)
• 36 stocks gained

Sensex Performance:

• Opened: 72,696.72 (down slightly from previous close of 72,776.1)
• High: 73,286.26
• Low: 72,683.99
• Closed: 73,104.61 (up by 328 points or 0.45%)
• 20 stocks gained

Market Insight: Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd, noted that Nifty recovered from lower levels to gain 49 points (+0.2%) to close at 22,104. This recovery was driven by likely short covering and buying at lower levels. There was buying in sectors like Metals, Realty, and Pharma. Despite a 500-point correction last week due to market volatility and foreign investor selling, the market sentiment has improved. Factors such as voter turnout data from the fourth election phase and India’s retail inflation data, expected later today, will influence market direction.

Motilal Oswal’s Stock Picks for This Week:

1. Bharti Airtel

• Buy at: ₹1,301
• Target Price: ₹1,380
• Stop Loss: ₹1,260

Bharti Airtel is in an overall uptrend, forming higher lows for the past eight months. It recently retested its previous breakout zone and moved higher. The stock is about to break out after five sessions and is showing strong bullish signs despite market weakness. It is trading above its short-term moving averages, and the Relative Strength Index (RSI) suggests increasing momentum. Therefore, Motilal Oswal recommends buying with a stop loss below ₹1,260 and a target of ₹1,380.

2. Dixon Technology

• Buy at: ₹8,418
• Target Price: ₹9,000
• Stop Loss: ₹8,150

Dixon Technology is in a strong uptrend, trading at lifetime highs, and outperforming within the consumer durables space. It has been forming higher lows for the past sixteen months and is showing resilience despite market weakness. The stock is about to break out after nine sessions and is holding strong at its 50-day Exponential Moving Average (DEMA). The RSI indicates overall strength, prompting Motilal Oswal to recommend buying with a stop loss below ₹8,150 and a target of ₹9,000.

3. Hindustan Copper Ltd

• Buy at: ₹373
• Target Price: ₹410
• Stop Loss: ₹355

Hindustan Copper is trading at multi-month highs and staying well above ₹350. It respects its rising trend line and has formed a strong bullish candle on the daily chart. The stock is hovering near its 20-day Exponential Moving Average (DEMA) and is likely to move higher. The RSI indicates continued momentum, leading Motilal Oswal to recommend buying with a stop loss below ₹355 and a target of ₹410.