Trade Spotlight: How should you trade Axis Bank, Power Mech Projects, UltraTech Cement, Jupiter Life, Jubilant Foodworks, and others on March 26?

On the daily and weekly scale, Axis Bank is in a rising channel chart formation with a higher high and higher low series pattern. The counter witnessed a steady recovery from the lower levels. Additionally, the technical indicator RSI (Relative Strength Index) is also indicating a further uptrend from current levels, which could boost the bullish momentum in the near future.

Strategy: Buy

Target: Rs 1,190

Stop-Loss: Rs 1,070

Tech Mahindra | CMP: Rs 1,455.5

On a daily time frame, Tech Mahindra had been in a downtrend. Therefore, it is currently in oversold territory and is available near its demand area. Moreover, the breakout from the sloping channel chart formation and the technical indicator RSI are indicating that the stock is very likely to rebound for a new leg of the upmove in the coming horizon.

Strategy: Buy

Target: Rs 1,550

Stop-Loss: Rs 1,400

Bajaj Finserv | CMP: Rs 1,945

Bajaj Finserv has given a breakout of its symmetrical triangle chart pattern with a strong bullish candlestick. Additionally, on the daily and weekly charts, it has formed a higher bottom formation. Therefore, the structure of the counter indicates further bullish momentum from the current levels. Unless it is trading below Rs 1,870, positional traders can retain an optimistic stance and look for a target of Rs 2,070.

Strategy: Buy

Target: Rs 2,070

Stop-Loss: Rs 1,870

Nandish Shah, Senior Technical and Derivative Analyst at HDFC Securities

Power Mech Projects | CMP: Rs 2,613.35

Power Mech Projects has broken out on the daily chart from the downward sloping trendline with higher volumes. The stock price is on the verge of forming a bullish engulfing pattern on the monthly charts. Momentum indicators and oscillators like MFI (Money Flow Index) and RSI are sloping upwards and placed above 60 on the daily chart, suggesting strength in the current bullish trend. Therefore, we recommend buying Power Mech at CMP (current market price) and accumulating on declines around Rs 2,500 for targets of Rs 2,900 and Rs 3,020.

Strategy: Buy

Target: Rs 2,900, Rs 3,020

Stop-Loss: Rs 2,350

UltraTech Cement | CMP: Rs 11,421.2

The primary trend of UltraTech Cement is positive as the stock price is placed above its 200-day EMA. The stock price is on the verge of breaking out from the downward sloping trendline adjoining the highs of December 16, 2024, and February 7, 2025. The stock price is in a strong uptrend as it has been forming a bullish higher top higher bottom formation on the monthly chart. During the recent correction, the stock price took support at the 100-week EMA and reversed northwards. Momentum indicators and oscillators are showing strength in the current uptrend of the stock.

Strategy: Buy

Target: Rs 12,220, Rs 12,600

Stop-Loss: Rs 10,700

Ashish Kyal, CMT, Founder and CEO of Waves Strategy Advisors

Jupiter Life Line Hospitals | CMP: Rs 1,698.55

Jupiter Life Line Hospitals consistently managed to outperform since the start of March 2025 and has shown a rally of more than 25%. On the daily chart, the stock has formed a Rounding Bottom pattern. However, it has not yet closed above Rs 1,710 levels. A close above this level is needed for the breakout of the said pattern. Also, the 30 EMA (Exponential Moving Average) has crossed the 60 EMA (Exponential Moving Average), which is a bullish crossover and indicates that the short-term bias has turned positive.

A follow-up buying above Rs 1,710 can extend this rally further. In summary, the trend for the stock is bullish. A break above Rs 1,710 can take prices higher towards Rs 1,775, followed by Rs 1,840 levels. On the downside, Rs 1,645 is the nearest support level.

Strategy: Buy

Target: Rs 1,775, Rs 1,840

Stop-Loss: Rs 1,645

JB Chemicals and Pharmaceuticals | CMP: Rs 1,730.4

In the previous session, JB Chemicals managed to shine and outperform its sector, surging by more than 3%. Moreover, after prices reversed from the lower Bollinger bands, it has managed to protect its prior day’s low on a closing basis since March 17, which suggests that bulls are tightening their grip by each passing day, visible on the daily chart.

Currently, prices have completed their journey towards the upper bands and have also closed above it, which is a sign of strength. Along with this, the MACD (Moving Average Convergence Divergence) has already given a bullish crossover, which further supports our overall stance. In summary, the current trend for JB Chemicals is on the side of the bulls. A break above Rs 1,750 levels can lead to a trending move towards Rs 1,820, followed by Rs 1,890 levels. On the downside, Rs 1,680 is the nearest support to watch out for.

Strategy: Buy

Target: Rs 1,820, Rs 1,890

Stop-Loss: Rs 1,680

Jubilant Foodworks | CMP: Rs 668

Jubilant Foodworks has managed to outperform its sector, which is a strong bullish sign. The stock has been moving within an upward sloping channel for more than a year, during which in the previous week, prices took support from the lower end of the channel and reversed on the upside. Moreover, prices for the past 7 trading sessions have protected their previous day’s low, which keeps the daily bias in favour of the bulls.

Also, the stock has managed to close above its important resistance of Rs 660 levels, which is a positive sign. Along with this, Parabolic SAR dots have recently started to form below the prices, suggesting that bullish momentum has started to build up in this stock. In summary, the current trend for Jubilant Foodworks is on the positive side. A break above Rs 677 levels can further boost positive momentum towards Rs 705, followed by Rs 730 levels. On the downside, Rs 650 is the nearest support.

Strategy: Buy

Target: Rs 705, 730

Stop-Loss: Rs 650

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.