Stock market recommendations for May 19, 2026, have been released by Somil Mehta, Head of Retail Research at Mirae Asset ShareKhan. According to the expert, Bajaj Finserv and Tata Elxsi are the top stocks to buy, while TVS Motor Company has been identified as a sell call.
Bajaj Finserv: Buy Recommendation
Buy in the range between Rs 1750 and Rs 1751; Stop Loss: Rs 1690; Target: Rs 1860
The weekly chart highlights strong support at the 200-week exponential moving average. On the daily timeframe, price action retraced to the golden ratio of the prior swing rise, forming a hammer reversal candle and breaking out. The Relative Strength Index (RSI) is holding at the 40 level with a positive crossover, indicating strength. Immediate resistance is observed at Rs 1800, while key support remains at Rs 1715.
Tata Elxsi: Buy Recommendation
Buy in the range between Rs 4156 and Rs 4157; Stop Loss: Rs 3920; Target: Rs 4450
The weekly chart shows a reversal from the golden ratio level of the overall rise. On the daily chart, a double bottom formation has developed, confirmed by a reversal candle. Momentum indicators are displaying positive divergence, suggesting that the reversal has strength. The key resistance is at Rs 4340, while support is at Rs 4020.
TVS Motor Company: Sell Recommendation
Sell in the range between Rs 3291 and Rs 3292; Stop Loss: Rs 3440; Target: Rs 3120
The weekly chart shows the stock closing below the 20- and 40-week exponential moving averages. On the daily chart, a lower-top and lower-bottom formation is visible. The daily candle has closed below the 200-day EMA as well as the 50% retracement of the previous swing rise. Momentum indicators are giving a negative crossover, signalling weakness. Key resistance is at Rs 3396, while support is at Rs 3200.
Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.
