Buy Bharat Dynamics, Airtel, LTI Mindtree & Syrma SGS shares this week, says Axis Securities

Axis Securities, in its weekly report, said it expected benchmark Nifty to trade in the 25,500-24,200 range with mixed bias. "The chart pattern suggests that if Nifty crosses and sustains above 25,000 level, it would witness buying, leading the index towards 25,200-25,500 levels. However, if the index breaks below 24,600 level, it would witness selling, taking the index towards 24,500-24,200," the domestic brokerage stated.

For Nifty Bank, it suggested that the sub-index could trade in the 54,500-52,700 range this week. "The chart pattern suggests that if Nifty Bank crosses and sustains above 53,800 level, it would witness buying, leading the index towards 54,000-54,500 levels. However, if the index breaks below 53,400 level, it would witness selling, taking the index towards 53,000-52,700. For the week, we expect Bank Nifty to trade in the range of 54,500-52,700 with a mixed bias," said Axis Securities.

On the stock-specific front, the broking firm selected Bharat Dynamics Ltd, Bharti Airtel Ltd, LTI Mindtree Ltd and Syrma SGS Technology Ltd as its top picks for the ongoing week. It has given 'Buy' calls on these counter with potential upside of up to 20 per cent. Here are the details:

* Bharat Dynamics: Buy range: Rs 1,255-1,231 | Stop loss: Rs 1,135 | Upside: 17%–20%

"BDL shares may hit Rs 1,459-1,495 levels in the near term. The holding period is three to four weeks," Axis Sec said.

* Airtel: Buy range: Rs 1,660-1,628 | Stop loss: Rs 1,570 | Upside: 9%–15%

"The stock found support at Rs 1,565, and rebounded sharply, establishing a robust medium-term support base. The weekly RSI strength indicator crossed above its reference line, generating a buy signal. The above analysis indicates an upside of Rs 1,795-1,885 levels. The holding period is three to four weeks," it stated.

* LTIMindtree: Buy range: Rs 6,600-6,468 | Stop loss: Rs 6,285 | Upside: 8%–11%

"The stock holds above its key short and medium-term daily moving averages (20-, 50-, 100-, and 200-day), indicating a positive bias. The weekly RSI strength indicator crossed above its reference line, generating a buy signal. The analysis indicates an upside of Rs 7,034-7,285 levels," the brokerage mentioned.

* Syrma SGS Tech: Buy range: Rs 585-575 | Stop loss: Rs 540 | Upside: 14%–18%

"Syrma has surpassed the consolidation range between Rs 575 and Rs 380 on weekly charts, signalling the onset of a medium-term uptrend. The analysis indicates an upside of Rs 660-685 levels," Axis Sec wrote in its weekly report.