Bharti Airtel, Chalet Hotels, Redington: Axis Securities picks 3 stocks; check targets
Axis Securities said that Bharti Airtel broke out of the symmetrical triangle pattern on the weekly chart in early February 2025, backed by a strong bullish candle confirming the continuation of the medium-term uptrend.
- Feb 17, 2025,
- Updated Feb 17, 2025 3:22 PM IST
Amid the rising selling pressure in the Indian equity markets, domestic brokerage firm Axis Securities has suggested three stocks- Bharti Airtel Ltd, Chalet Hotels Ltd and Redington Ltd- to bet amid the scarce opportunities to make money. The brokerage has picked the three counters based on their strong technical charts. Here's what the brokerage has to say about these counters:
Redington is trending within a rising channel and recently found support at the lower band, rebounding toward the upper band, signalling a strong uptrend. The stock has broken above horizontal resistance near 230, backed by a strong bullish candle and rising volumes, confirming the continuation of the uptrend. Additionally, it trades above key short and medium-term moving averages (20, 50 , 100 and 200-day), reinforcing a positive bias and sustained upward momentum. The weekly RSI has crossed above its reference line, generating a buy signal. It also holds above an upward-sloping trendline, further strengthening the bullish outlook. The above analysis indicates an upside of Rs 255-265 levels.
Amid the rising selling pressure in the Indian equity markets, domestic brokerage firm Axis Securities has suggested three stocks- Bharti Airtel Ltd, Chalet Hotels Ltd and Redington Ltd- to bet amid the scarce opportunities to make money. The brokerage has picked the three counters based on their strong technical charts. Here's what the brokerage has to say about these counters:
Redington is trending within a rising channel and recently found support at the lower band, rebounding toward the upper band, signalling a strong uptrend. The stock has broken above horizontal resistance near 230, backed by a strong bullish candle and rising volumes, confirming the continuation of the uptrend. Additionally, it trades above key short and medium-term moving averages (20, 50 , 100 and 200-day), reinforcing a positive bias and sustained upward momentum. The weekly RSI has crossed above its reference line, generating a buy signal. It also holds above an upward-sloping trendline, further strengthening the bullish outlook. The above analysis indicates an upside of Rs 255-265 levels.