Rajesh Palviya of Axis Sec suggests Zee Ent, Anant Raj, Elgi shares to buy next week | Stock Market News

Stock market news: Indian equity benchmarks, the Sensex and Nifty 50, ended in the red on Friday as investors turned cautious following the Reserve Bank of India's latest policy review, which signalled slower economic growth and higher inflation in FY27.

The BSE Sensex fell 116.67 points, or 0.16%, to close at 74,243.34, while the NSE Nifty 50 slipped 49.85 points, or 0.21%, to settle at 23,366.70. The market remained volatile throughout the session, with the Sensex swinging more than 700 points between its intraday high of 74,717.57 and low of 73,988.75.

Investor sentiment was further dampened by continued foreign institutional investor (FII) outflows, lingering geopolitical tensions and weak cues from other Asian markets.

In its monetary policy announcement, the RBI left the repo rate unchanged at 5.25% and maintained its neutral policy stance. However, the central bank cut its FY27 GDP growth forecast to 6.6%, down from 6.9% previously and below the estimated 7.6% growth for FY26.

The RBI also raised its FY27 inflation projection to 5.1%, citing upside risks from global commodity prices, supply-chain disruptions and weather-related uncertainties. Inflation is expected to rise further, peaking at 5.9% in the third quarter of FY27, before easing.

According to market experts, the combination of a softer growth outlook, elevated inflation expectations, and external uncertainties prompted profit-booking across sectors, keeping benchmark indices under pressure despite the central bank's decision to keep interest rates unchanged.

On the daily chart, Zee Entertainment Enterprises decisively surpassed the 100-level resistance zone on a closing basis, with heavy volumes indicating strong bullish sentiment.The stock is well placed above its 20-, 50-, 100-, and 200-day simple moving averages (SMAs). These averages are also inching up alongside the price rise, which further confirms the bullish trend. On the daily and weekly charts, the stock has confirmed a short-term trend reversal, which shows bullish sentiment. The daily, weekly and monthly Relative Strength Index (RSI) is in favourable territory, indicating rising strength across all time frames.

The daily and weekly "Bollinger Band" buy signal shows increased momentum. The daily, weekly and monthly Relative Strength Index (RSI) is in favourable territory, indicating rising strength across all time frames.

Investors should consider buying, holding, and accumulating this stock. Its expected upside is 125-130, and its downside support zone is 105-100.

With the current price action, Anant Raj has decisively surpassed the past seven months' down-sloping trendline breakout at the 560 levels on a closing basis, accompanied by huge volumes. The daily and weekly "Bollinger Band" buy signal shows increased momentum. The daily, weekly and monthly Relative Strength Index (RSI) is in favourable territory, indicating rising strength across all time frames. The stock is well placed above its 20-, 50-, 100-, and 200-day simple moving averages (SMAs), which reconfirms bullish sentiment.

Investors should consider buying, holding, and accumulating this stock. Its expected upside is 620-645, and its downside support zone is the 560 –555 levels.

On the daily and weekly charts, Elgi Equipments is trending higher, with higher tops and bottoms, indicating a strong uptrend. In addition, on the weekly chart, the stock is sustaining above the breakout of the "rounding bottom" formation at the 590 level, which signals a positive bias. Huge rising volumes on rallies signify increased participation. The stock is well placed above its 20-, 50-, 100-, and 200-day simple moving averages (SMAs). These averages are also inching up alongside the price rise, which further confirms the bullish trend.

Investors should consider buying, holding, and accumulating this stock. Its expected upside is 650-675, and its downside support zone is 600-590.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.

Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.

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