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Axis Securities advises a staggered, stock-specific accumulation strategy in quality large, mid and smallcap stocks, with 22,100 as a key level to wat... 1 /14 The market is currently at a make-or-break juncture, according to Axis Securities in its latest note for Samvat 2083. As long as the Nifty 50 holds its key support of 22,100, the index has the potential to stage a recovery towards 23,600 - 24,000 levels and a break above that could even take it to 25,000. However, if the index breaks 22,000, the structure weakens further and that could open doors to further downside towards 21,500 - 21,000 levels. 2 /14 In light of this, Axis Securities advises a staggered, stock-specific accumulation strategy in quality large, mid and smallcap stocks, with 22,100 as a key level to watch.
The firm has recommended 12 stocks, whose long-term charts have a potential to gain as much as 50% during the new Samvat. Here's a look at their 12 stock recommendations. 3 /14 Aurobindo Pharma | The drugmaker's long-term chart shows a retest of a breakout zone around ₹1,000 - ₹1,100. The strong bullish candle shows renewed buying interest and the recent price action shows the stock extending its advance.
Axis Securities recommends buying in the range of ₹1,550 - ₹1,470, with supports at ₹1,380 - ₹1,300 for upside towards ₹1,880 - ₹2,100 levels, which is a 25% to 39% return potential over the new Samvat. 4 /14 Hindustan Aeronautics | On the monthly chart, HAL has formed a symmetrical triangle with prices moving above the descending trendline, suggesting a potential resumption of the broader uptrend. The monthly RSI also remains above 50 and has stabilized with a modest upward bias, although a strong pick-up is yet to emerge. Axis Securities recommends buying the stock in the ₹4,600 - ₹4,450 range with a support at ₹4,550 - ₹4,350 for an upside towards ₹5,500 - ₹5,850 levels, which indicates returns between 22% to 29% for the new Samvat. 5 /14 IOL Chemicals & Pharma | On the six-month chart, the stock appears to be emerging from a prolonged consolidation, following a strong advance.
The recent move indicates a potential resumption of a broader trend. RSI too, is rising towards 70, supporting an improvement in bullish momentum. Axis Securities recommends buying in the range of ₹170 - ₹155, with a support between ₹140 - ₹125 for upside targets of ₹215 - ₹235, indicating returns between 32% to 45% over the new year. 6 /14 Jyoti CNC Automation | On the quarterly chart, Jyoti CNC has broken above the upper boundary of the descending channel, signaling a potential improvement in its broader price structure.
The ₹850 - ₹860 assumes significance as the breakout trendline broadly coincides with the 50% retracement of the advance from ₹580 - ₹1,134 levels. Axis Securities recommends buying the stock between ₹870 - ₹825 with a support zone between ₹780 - ₹740 for targets of ₹1,150 - ₹1,255. This indicates upside potential between 36% to 48% for Samvat 2083. (Photo Credit : commons.wikimedia ) 7 /14 Kotak Mahindra Bank | On the six-monthly chart, the lender appears to be emerging from a prolonged consolidation, during which, a strong base appears to have been formed between ₹330 - ₹300 levels.
RSI too is rising towards the 70 mark, indicating an improvement in bullish momentum. Axis Securities recommends buying in the range of ₹445 - ₹420, with a support zone between ₹390 - ₹370, and targets of ₹520 - ₹560 levels, indicating upside potential between 20% to 29%. 8 /14 Karnataka Bank | On the charts, Karnataka Bank appears to have broken out from a prolonged sideways consolidation that has tested the breakout zone over three consecutive candles. The stock has now resumed its advance and moved past its earlier ₹287 peak, reinforcing the positive price action.
Axis Securities recommends buying the stock in the ₹280 - ₹265 range, with support between ₹250 - ₹230 for targets of ₹365 - ₹395 levels. This indicates an upside potential between 34% to 45% from current levels for the new Samvat. 9 /14 Dr. Lal Pathlabs | On the quarterly chart, Dr.
Lal appears to have formed a broad rounding base, following a sharp correction from its earlier peak. The gradual recovery, supported by higher lows, indicates improving buying interest. The quarterly RSI also remains above its midpoint, indicating a positive momentum bias, although it has softened recently.
Axis Securities recommends buying the stock in the ₹1,770 - ₹1,650 range, with a support zone at ₹1,600 - ₹1,500 for targets of ₹2,150 - ₹2,285 on the upside. This indicates a return potential of 26% to 34%. 10 /14 Mayur Uniquoters | The stock has broken above the upper boundary of a prolonged consolidation on the quarterly charts, according to Axis Securities, who added that the strong bullish breakout candle reflects increased buying participation, and suggests an improvement in the broader price structure. The RSI has moderated, indicating that the uptrend remains although the bias as softened.
Axis Securities recommends buying the stock in the ₹670 - ₹635 range with a support zone between ₹615 - ₹550 for targets of ₹885 - ₹950. This indicates an upside potential of 36% to 46% for the new Samvat. 11 /14 Shivalik Bimetal Controls | The stock has broken above a prolonged consolidation range, forming successive strong bullish candles backed by elevated volumes. The combination indicates increased buying participation and supports the possibility of a fresh leg higher.
Axis Securities recommends buying the stock in the ₹900 - ₹830 range with support zone between ₹710 - ₹630, for upside target towards ₹1,130 - ₹1,285 levels. This indicates an upside potential of 31% to 49% for the new Samvat. 12 /14 Sona BLW | On the long-term charts, Sona BLW has broken out of a four-year consolidation range, establishing a strong base at ₹400, before staging a sustained recovery and moving towards the upper boundary of ₹750 - ₹760. Holding above this area, followed by a renewed advance would strengthen the case for continuation of the broader uptrend.
Axis Securities recommends buying the stock between ₹830 - ₹770 levels, with a support zone between ₹700 - ₹660 and upside targets of ₹865 - ₹1,070 levels. This indicates an upside potential of 21% to 34%. 13 /14 Tech Mahindra | After a rally from ₹480 - ₹1,840, Tech Mahindra's correction found support near the 61.8% retracement zone of ₹980 - ₹1,000. The latest strong bullish candle shows the stock attempting to break above the resistance trendline connecting its previous peak.
The monthly RSI has also turned higher. Axis Securities recommends buying the stock in the ₹1,710 - ₹1,650 range, with support at ₹1,600 - ₹1,500 for upside targets of ₹2,100 - ₹2,350 levels, indicating an upside potential of 25% to 40% for the new Samvat. (Photo Credit : Canva ) 14 /14 Welspun Living | The stock has formed an ascending triangle with repeated resistance around ₹180 - ₹200, and a series of higher lows. The structure shows buyers have been stepping at higher levels during the consolidation.
The stock has moved above this resistance zone along with better volumes, indicating strengthening bullish momentum. Axis Securities recommends buying the stock in the ₹200 - ₹185 range, with support between ₹170 - ₹155, for targets of ₹260 - ₹275 levels. This indicates upside potential between 35% to 43% for the new year.
Home Photos News Market News Top Technical Stock Picks: Axis Securities names 12 stocks for Samvat 2083 and up to 50% upside
Source: CNBC TV18
