Axis Direct expects benchmark Nifty50 to consolidate in the near term, with the index trading within the 24,500–23,800 range, while a breakout on either side could set the tone for the coming sessions.

For the banking index, the domestic brokerage anticipates a mixed-to-cautious trend. Nifty Bank is expected to move within the 56,500–53,500 band during the week.

Against this backdrop, the domestic brokerage has identified Adani Ports and Special Economic Zone Ltd, Gujarat Fluorochemicals Ltd, and Ramkrishna Forgings Ltd as its three preferred stock picks for the week.

Gujarat Fluorochemicals

Axis noted, "On weekly charts, Gujarat Fluorochemicals has delivered a decisive breakout above the medium-term downward-sloping trendline, backed by a strong bullish candle, signalling the onset of a medium-term uptrend."

It added, "The breakout is supported by a sharp surge in volumes, underscoring strong market participation and conviction behind the move.

The stock is firmly positioned above its 20-, 50-, 100-, and 200-day SMAs, with all key averages trending higher in alignment with price action, confirming a robust bullish structure."

The brokerage expects the stock to move towards Rs 3,785–3,920 levels, with a stop loss placed at Rs 3,415. The suggested holding period is three to four weeks.

Adani Ports

"Adani Ports has delivered a decisive breakout above multiple resistance zones around Rs 1,617, supported by a strong bullish candle, signalling the continuation of the medium-term uptrend," Axis said.

The brokerage sees potential upside towards Rs 1,790–1,850 levels, with a stop loss at Rs 1,555.

Ramkrishna Forgings

"On weekly charts, Ramkrishna Forgings has delivered a decisive breakout above the double bottom pattern at Rs 585, supported by a strong bullish candle, signalling the onset of a medium-term uptrend," Axis stated.

Axis Direct expects the stock to rise towards Rs 630–657 levels, while recommending a stop loss at Rs 563.