Stocks to buy: Tech analyst picks Astra Microwave, Jay Bharat, Welspun Corp

Stocks to Buy: Choice Broking Weekly Recommendations, Aakash Shah recommends buy on Welspun Corp, Astra Microwave Products and Jay Bharat Maruti.

Stocks to buy this week by Choice Broking

Jay Bharat Maruti

Buy  Last close: ₹166.85  Stop Loss: ₹155  Target: ₹180 / ₹185  Jay Bharat Maruti has maintained a strong and healthy uptrend after delivering a decisive breakout above its previous 52-week high around the ₹115 zone.  In just the last 14 trading sessions, the stock has surged nearly 61 per cent, reflecting aggressive buying momentum and strong participation from market participants. The stock has also surpassed its previous all-time high and registered a fresh peak near ₹178.89 with robust volumes, indicating strength in the ongoing rally.  Technically, the stock is trading well above its key moving averages, with the 20-day EMA acting as immediate support. In the latest session, the stock gained 4.39 per cent and closed at ₹166.85, signalling continued bullish sentiment.  A breakout above the ₹180 all-time high zone could trigger the next leg of the rally towards ₹185. The recent swing low of ₹155 should be maintained as the stop-loss. 

Astra Microwave Products

Buy  Last close: ₹1,722  Stop Loss: ₹1,598  Target: ₹1,850  Astra Microwave Products continues to display exceptional strength by maintaining a consistent higher-high and higher-low structure on the charts, signalling a sustained bullish trend.  The stock has registered six consecutive weekly gains, reflecting strong momentum and a continuation pattern supported by steady buying interest. Technically, the stock is trading comfortably above all its key moving averages, with the key EMA all sloping upwards, reinforcing the prevailing uptrend.  The RSI is trading near 79, indicating strong momentum despite being in the higher zone. The stock is currently hovering close to its all-time high and appears poised for another breakout. Any minor dips can be considered buying opportunities as long as the broader structure remains intact.  A decisive move above current levels could extend the rally towards ₹1,850, while ₹1,598 should be maintained as the stop-loss 

Welspun Corp

Buy  Last close: ₹1,455  Stop Loss: ₹1,386  Target: ₹1,555  Welspun Corp has delivered a remarkable bull run from the ₹900 levels since the beginning of April and has appreciated nearly 64 per cent from its recent lows, demonstrating strong institutional participation and sustained buying momentum. Despite the sharp rally, the stock is not showing signs of overheating, with the RSI trading around 65, indicating healthy momentum with room for further upside.  The stock has consistently maintained a higher-high and higher-low formation and continues to trade well above all its major moving averages. For the past few weeks, the stock had been consolidating near the ₹1,400 zone, suggesting accumulation before the next move.  In the latest session, Welspun Corp gave a breakout above its recent consolidation range and registered a fresh all-time high, supported by improving volumes. The 20-day EMA near ₹1,386 continues to act as a strong support level and should be maintained as the stop-loss. A sustained move above current levels can propel the stock towards the next upside target of ₹1,555.  (Disclaimer: This article is by  Aakash Shah, technical research analyst, Choice Equity Broking. Views expressed are his own.)