Stocks to buy: Galaxy Surfactants, Mankind Pharma and Engineers India; check share price target by Axis, rationale
AI Summary
The prolonged decline in Indian equities, marked by the Nifty's eight-week streak of lower lows, signals a challenging environment for retail investors. While the overall market sentiment remains bearish due to external pressures like rising US Treasury yields and FII selling, select stocks like Galaxy Surfactants and Mankind Pharma present potential buying opportunities amid this volatility. Investors should closely monitor key support levels, particularly around 22,200 for the Nifty, as a breach could lead to further declines, while a breakout above 23,300 could signal a reversal in trend.
Indian equities entered October on a weak technical footing, with both the benchmarks Nifty 50 and Sensex extending their declines.
According to Axis Direct’s weekly technical outlook, the Nifty has now formed a lower-low, lower-high pattern for eight consecutive weeks, marking its longest such streak since 2001. The brokerage said momentum indicators also point to continued weakness, although select stocks are showing stronger technical structures and could offer upside over the next three to four weeks.
Original Article
Published on Livemint
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This is a market news update from Livemint, published on 03 October 2026.
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