Rajesh Palviya of Axis Sec Suggests Zee Ent, Anant Raj, Elgi Shares to Buy Next Week

Why It Matters

The picks offer potential upside in a market under pressure, illustrating how technical momentum can create buying opportunities despite broader macro headwinds. Investors seeking returns may focus on these stocks as the broader indices remain volatile.

Key Takeaways

• RBI cut FY27 growth forecast to 6.6%, raised inflation to 5.1%
• Sensex fell 0.16% to 74,243; Nifty down 0.21% to 23,367
• Zee Entertainment breaks ₹100 resistance, target $1.55
• Anant Raj breaches 560 level, target $7.6
• Elgi Equipment in uptrend, target $8.0

Pulse Analysis

The Reserve Bank of India’s latest policy review sent a ripple through the market, trimming the FY27 GDP growth outlook to 6.6% and nudging inflation expectations to 5.1%. While the central bank kept the repo rate steady at 5.25%, the softer growth forecast and higher price pressures sparked profit‑taking across sectors, dragging the Sensex and Nifty into modest declines. For investors, the backdrop underscores the importance of balancing macro risk with stock‑specific catalysts.

Against this cautious macro climate, Axis Securities’ senior analyst Rajesh Palviya identified three equities that exhibit strong technical momentum. Zee Entertainment broke through the ₹100 (≈$1.20) resistance, staying above key moving averages and generating a bullish Bollinger‑Band signal, with a price objective near $1.55. Anant Raj shattered a seven‑month downtrend at the 560 level (≈$6.75), also supported by rising volumes and a favorable RSI, pointing to a target around $7.6. Elgi Equipments continues an uptrend, clearing a rounding‑bottom at ₹590 (≈$7.11) and aiming for $8.0, buoyed by higher‑highs and sustained buying pressure.

These technical setups suggest that selective, momentum‑driven trades can outperform broader market sentiment when macro fundamentals are uncertain. Investors should weigh the upside potential against the inherent volatility of Indian equities, especially given ongoing foreign institutional outflows and global commodity price risks. Diversifying across sectors while monitoring key technical indicators can help capture gains from stocks like Zee, Anant Raj and Elgi, which may lead the next wave of market recovery.