Movers & Shakers: Stocks that will see action this week

Authum Investment & Infrastructure (₹571.30)

Since the beginning of the current financial year, the stock has been rallying. The price action since early April shows that the scrip has been forming higher highs and higher lows, indicating a steady uptrend. Last week, the stock rebounded from the 50-day moving average, and the rally on Friday indicates that much more upside is left. From the current level, we might see the price moderating to ₹530. But post this move, the stock can appreciate to ₹700 over the next few months. So, traders can go long now at ₹571 and accumulate at ₹530. Place stop-loss at ₹480. On a rally to ₹630 and ₹670, alter the stop-loss to ₹580 and ₹640 respectively. Exit at ₹700.

The stock of L&T Finance, after hitting a record high of ₹338.50 on July 7, saw a decline. However, this did not alter the broader uptrend, which remains bullish. The recent drop in price is likely to be only a correction, and we expect the stock to resume the rally soon. It can rebound from the current level of ₹309, its 21-day moving average, or after extending the fall to ₹290. Once the uptrend resumes, the stock can rally to ₹400 in the medium-term. Hence, participants can buy now at ₹309 and accumulate on a dip to ₹290. Place stop-loss at ₹275. On a rally to ₹340 and ₹375, raise the stop-loss to ₹315 and ₹360 respectively. Exit at ₹400.

The stock Newgen Software Technologies has been in a downtrend since January 2025. But since March this year, the price remained largely flat, showing that the bears lost momentum. Adding to this, the stock broke out of a barrier at ₹530 last week, a notable signal of a bullish trend reversal, at least of the near-term. Over the medium-term, the price might go up to ₹800. Hence, the risk-reward ratio is good. Therefore, one can buy the stock now at ₹548 and ₹515. Keep stop-loss at ₹450. When the price touches ₹650, raise the stop-loss to ₹580. Tighten the stop-loss to ₹680 when the stock rises to ₹730. Book profits at ₹800.