Buy Tech Mahindra, AB Capital & Finolex Industries shares, said Axis Securities

Indian benchmark indices settled lower on Tuesday amid rising conflicts in the Middle East, awaiting the US FOMC meeting due later this week. The boil in crude oil also pushed the prices of crude oil higher. SE Sensex dropped 212.85 points, or 0.26 per cent, to settle at 81,583.30, while NSE's Nifty50 fell 93.10 points, or 0.37per cent to close at 24,853.40 for the day.

Select buzzing stocks including Tech Mahindra Ltd, Aditya Birla Capital Ltd and Finolex Industries Ltd are likely to remain under the spotlight of traders for the session today. Here is what Rajesh Palviya, SVP of Technical and Derivatives Research at Axis Securities has to say about these stocks ahead of Wednesday's trading session:

Finolex Industries | Buy | Target Price: Rs 255 | Stop Loss: Rs 215

Finolex has a 'rounding bottom' formation breakout at Rs 215 levels on the daily charts and sustaining above the same. Currently, the stock is well placed above its 20, 50 and 100-day SMA, which confirms a bullish trend. The past couple of months' rising volumes signify the increased participation. The daily, weekly and monthly strength indicator RSI indicates rising strength. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 255-275, and its downside support zone is the Rs 217-210 levels.

Tech Mahindra | Buy | Target Price: Rs 1,830 | Stop Loss: Rs 1,675

Tech Mahindra has decisively surpassed the 'multiple resistance' zone of Rs 1,710 with the current close on a closing basis, which shows a sustained uptrend. The stock is well-positioned above its 20-day, 50-day, 100, and 200-day SMAs, and these averages are also inching up along with rising prices, which reconfirms bullish sentiments. The daily 'band Bollinger' buy signal indicates increased momentum. The daily, weekly and monthly strength indicator RSI is in positive terrain, which indicates rising strength. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 1,800-1,985, and its downside support zone is the Rs 1,655-1,600 levels.

Aditya Birla Capital | Buy | Target Price: Rs 278 | Stop Loss: Rs 242

AB Capital has registered an all-time high at Rs 255.75, with the current week's price movement, forming a series of higher tops and bottoms indicating a strong uptrend. In addition, the stock has also confirmed a 'V' shape recovery, which signifies increased momentum. The past couple of weeks' rising volumes signify increased participation in the rally. The stock is well-positioned above its 20-day, 50-day, 100, and 200-day SMAs, and these averages are also inching up along with rising prices, which reconfirms bullish sentiments. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 285-300, and its downside support zone is the Rs 247-235 levels.