Religare picks Mazagon Dock, Bharti Airtel, M&M Financial as weekly stock recommendations

Religare Broking on Tuesday shared its weekly technical stock picks, highlighting Bharti Airtel Ltd, Mazagon Dock Shipbuilders Ltd and Mahindra & Mahindra Financial Services Ltd as buy candidates for the week.

The domestic brokerage noted that the Nifty50 index recently tested the 25,250 mark with support from broad-based participation, while the banking index crossed the 55,000 level. It expects the index to move toward 25,500 but advised traders to continue with a "buy-on-dips" approach and avoid aggressive positioning amid global monetary policy and trade-related developments.

Weekly stock picks by Religare:

1) Bharti Airtel Ltd | LTP: Rs 1,939.50 | Recommendation: Buy | Target: Rs 2,075 | Stop Loss: Rs 1,875

Religare said Bharti Airtel has given an upside breakout after consolidating in a symmetrical triangle pattern. The stock has reclaimed its 20- and 50-day exponential moving averages (EMAs), with RSI (Relative Strength Index) turning upward, indicating momentum in favor of continuation of the uptrend.

2) Mazagon Dock Shipbuilders Ltd | LTP: Rs 2,946 Recommendation: Buy | Target: Rs 3,170 | Stop Loss: Rs 2,850

According to the brokerage, Mazagon Dock has staged a breakout from a tight consolidation range after recovering from its 200-day EMA. Rising volumes and a move above short-term averages point toward renewed buying interest.

3) Mahindra & Mahindra Financial Services Ltd | LTP: Rs 278.55 | Recommendation: Buy | Target: Rs 299 | Stop Loss: Rs 269

Religare highlighted that M&M Financial has broken above its resistance at Rs 275 after consolidating in the Rs 245–285 range. The stock has formed a base above the moving average ribbon, suggesting the uptrend may resume.