Rajesh Palviya’s Top Stock Picks: Nykaa, TCS, and Sun Pharma Set to Shine Next Week—Watch Nifty and Bank Nifty for Key Breakouts

Rajesh Palviya from Axis Securities has shared three stock recommendations for the coming week. He believes there is still potential for further gains in Nykaa, with possible targets towards ₹240 to ₹250 as long as the stock stays above the ₹210 level. Regarding the overall market, Rajesh notes that the Nifty is still in a bullish trajectory but is struggling to cross the 25,000 mark, which has become a significant resistance level due to increased call writing activity.

If Nifty can break above 25,000, a short-covering rally could occur, pushing it higher. On the downside, he suggests that any minor decline towards the 24,700 to 24,750 zone should be seen as a buying opportunity, with a stop loss set around 24,600.

Bank Nifty

Similarly, Rajesh highlights that the Bank Nifty is facing resistance at the 51,000 level, but if it manages to cross this hurdle, the rally could extend to the 51,500 zone. He advises keeping a stop loss at 50,600 while holding long positions in Bank Nifty. He also suggests that sectors like automobiles, pharmaceuticals, and IT could perform well in the coming week, with good traction expected in these areas.

Within the IT sector, Rajesh is focusing on TCS, which is hovering around its all-time high. He believes the stock has potential to continue its rally, with a target of ₹4,650 on the upside. He recommends setting a stop loss around ₹4,390 for TCS. In the midcap IT space, L&T Technology Services is another stock that looks promising to Rajesh. The stock has recently given a breakout on the weekly chart, and he sees potential for it to reach ₹5,700 to ₹5,800. He suggests a stop loss of ₹5,390 for this trade.

Pharmaceutical Sector

In the pharmaceutical sector, Rajesh remains bullish on Sun Pharma, expecting the stock to continue its uptrend with a possible target of ₹1,850 to ₹1,860. He advises setting a stop loss at ₹1,740. Glenmark is another stock in the pharma space that Rajesh finds attractive.

The stock has been moving in an uptrend and is trading at an all-time high trajectory. He believes the rally could continue, with possible targets of ₹1,750 to ₹1,780. He recommends a stop loss of ₹1,640 for Glenmark.

New-Age Stocks

When discussing new-age stocks, Rajesh observes strong buying action in names like Nykaa, Zomato, Paytm, and CarTrade, which have all performed well recently. He believes that Nykaa, as long as it stays above ₹210, could see another round of rally with targets towards ₹240 to ₹250. Zomato, which has been holding its ground at higher levels, could move further up to ₹300 to ₹320. Rajesh suggests that any minor dip in Zomato could be a good buying opportunity, with a focus on the ₹240 to ₹245 zone. As for Paytm, the stock has seen significant gains recently, and Rajesh sees potential for it to move towards ₹630 if it can break above the ₹580 to ₹590 resistance zone.

InterGlobe Aviation

Finally, Rajesh shares three specific stock picks for the coming week. The first is InterGlobe Aviation, which has recently broken out of an 8-10 week consolidation phase. With long buildup in derivatives, Rajesh believes the stock could continue its uptrend with a target of ₹4,950. He recommends a stop loss at ₹4,600 for this trade.

Craftsman

The second pick is Craftsman, a midcap stock that has reached a new all-time high. With a bullish trajectory and strong volume action, Rajesh sees potential for the stock to reach ₹6,150 to ₹6,200, with a stop loss around ₹5,820. The third stock is Bharti Airtel from the telecom sector. Rajesh notes that the stock has been in an uptrend, with buying interest at lower levels. He believes the stock could continue its rally with a target of ₹1,550 and suggests setting a stop loss at ₹1,485.

Overall, Rajesh Palviya’s recommendations for the coming week include a mix of large-cap and midcap stocks, with a focus on sectors like IT, pharmaceuticals, and telecom, as well as a positive outlook on new-age stocks like Nykaa, Zomato, and Paytm. He highlights key levels to watch in the Nifty and Bank Nifty, as well as specific stock targets and stop loss levels for his picks.