Top 3 Best Stock Picks for This Week by Motilal Oswal, including Mahindra & Mahindra, Kalyan Jewellers, and PolicyBazaar for potential growth.

Top 3 Best Stock Picks for This Week by Motilal Oswal: M&M, Kalyan Jewellers, and PolicyBazaar

The Indian stock market faced significant turbulence on January 6, 2025, with both the Sensex and Nifty 50 indices seeing sharp declines. The market drop, fueled by investor concerns over a new virus outbreak in China, led to widespread selling. Despite this, Motilal Oswal has identified the Top 3 Best Stocks to buy this week, with strong potential for growth. These stocks—Mahindra & Mahindra, Kalyan Jewellers, and PolicyBazaar—are all showing solid signs of upward momentum, making them great options for investors seeking opportunities amidst the market volatility.

Market Overview: A Look at January 6’s Market Movement

On Monday, January 6, the Indian stock market took a hit, with the Nifty 50 and Sensex dropping by over 1.5%. The sell-off was largely triggered by reports of the HMP Virus outbreak in China, which caused investor panic. The Nifty 50 closed at 23,616 points, a 1.6% drop, while the Sensex fell 1.59%, ending at 77,964 points.

The banking sector also saw declines after underwhelming quarterly results, and the broader market sentiment was further weakened by foreign institutional investors (FIIs) pulling out ₹4,227 crore from Indian equities. However, in the midst of this market downturn, Motilal Oswal recommends the Top 3 Best Stock Picks to buy this week, focusing on stocks with strong technical setups and the potential for significant upside.

Motilal Oswal’s Top 3 Best Stock Picks for the Week

1. Mahindra & Mahindra (M&M)

  • Buy Price: ₹3190
  • Stop Loss: ₹3080
  • Target Price: ₹3400

Mahindra & Mahindra is one of the Top 3 Best Stocks recommended by Motilal Oswal this week. The stock has been consolidating at all-time high levels for some time now, and it recently broke out of a falling supply trend line. This bullish move has positioned the stock for further upward momentum. M&M is comfortably trading above its 20-week exponential moving average (20WEMA), suggesting that the positive trend will continue. With strong performance within the automotive sector, M&M is expected to hit new lifetime highs. Investors can buy M&M with a target price of ₹3400, keeping a stop loss at ₹3080.

2. Kalyan Jewellers

  • Buy Price: ₹777
  • Stop Loss: ₹740
  • Target Price: ₹850

Kalyan Jewellers is another top stock to consider this week. The stock has been in a strong uptrend, forming higher lows on the monthly chart. Recently, Kalyan Jewellers broke above its range, signaling the potential for further growth. It is trading near its all-time high, and its momentum indicators, such as the RSI, show a positive crossover, further supporting the bullish outlook. Kalyan Jewellers is likely to continue outperforming within the midcap space and reach new record highs. Motilal Oswal recommends buying the stock with a target of ₹850, while setting a stop loss at ₹740.

3. PolicyBazaar

  • Buy Price: ₹2215
  • Stop Loss: ₹2100
  • Target Price: ₹2400

PolicyBazaar rounds out Motilal Oswal’s list of Top 3 Best Stocks for the week. The stock has shown strong growth, forming a higher high and higher low structure, which is a bullish sign. It recently negated the formation of lower highs on the weekly chart, completing a strong breakout with a bullish candle. The stock is trading well above its 50-day exponential moving average (50DEMA), further confirming the strength of the trend. The RSI is also moving upwards, suggesting that the stock has the momentum to hit new highs. PolicyBazaar has the potential to reach ₹2400, and investors should consider buying it with a stop loss at ₹2100.

Conclusion: The Top 3 Best Stocks for the Week Amid Market Volatility

While the market may be facing short-term challenges, these Top 3 Best Stocks—Mahindra & Mahindra, Kalyan Jewellers, and PolicyBazaar—have shown strong technical signals and are expected to perform well in the coming weeks. Despite the overall market volatility caused by external factors like the HMP Virus outbreak, these stocks offer solid potential for growth.

Investors looking to take advantage of the current market conditions should consider these stock recommendations from Motilal Oswal. By buying these stocks at the suggested prices and setting appropriate stop losses, investors can capitalize on their strong momentum and potential for significant returns. As always, it’s essential to stay informed about market trends and company performance to make the best investment decisions.

One thought on “Top 3 Best Stock Picks for This Week by Motilal Oswal: M&M, Kalyan Jewellers, and PolicyBazaar

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