'Buy' UNO Minda, Lupin shares; 'Sell' Axis Bank: LKP Securities' analyst

Indian equity benchmarks ended sharply lower on Friday, breaking a six-day winning streak as heavy selling in index heavyweights dragged the market down. The 30-share BSE Sensex fell 694 points or 0.85 per cent to close at 81,307, while the broader NSE Nifty slipped 214 points or 0.85 per cent to settle at 24,870.

Broader indices also witnessed pressure. The BSE MidCap100 declined 0.14 per cent and the SmallCap100 lost 0.26 per cent, reflecting weakness across segments.

For the next trading session on Monday, LKP Securities' Senior Technical Analyst, Rupak De, has given short-term trading recommendations on three stocks -- UNO Minda Ltd, Lupin Ltd and Axis Bank Ltd.

Buy UNO Minda @ Rs 1,266 | Target Rs 1,330 | Stop Loss Rs 1,219

UNO Minda has broken out after a brief consolidation on daily charts, signaling fresh momentum. The stock is trading comfortably above its 50-EMA, confirming a bullish bias. The RSI has also turned positive with a bullish crossover. Near term, the trend looks favorable, with potential upside towards Rs 1,330, while support lies at Rs 1,219.

Buy Lupin @ Rs 1,970 | Target Rs 2,050 | Stop Loss Rs 1,924

Lupin has shown a bullish reversal following the formation of a ‘bullish harami’ pattern. Prices have sustained above the crucial 50-EMA, while the RSI is in a bullish crossover. The stock may move towards Rs 2,030–2,050 in the short term, with support pegged at Rs 1,924.

Sell Axis Bank @ Rs 1,070 | Target Rs 1,040 | Stop Loss Rs 1,086

Axis Bank has slipped below its recent consolidation zone, reflecting bearish sentiment. It is trading under the 21-EMA, with the RSI close to a bearish crossover. In the near term, the stock may drift lower to Rs 1,040, while resistance is seen at Rs 1,086.