Axis Securities recommended four stocks namely Adani Ports and Special Economic Zone Ltd, Samvardhana Motherson International Ltd, Metropolis Healthcare Ltd and Emami Ltd that can deliver 9-19 per cent returns in the next three-four weeks. Axis Securities see 15-19 per cent upside potential for Metropolis Healthcare; it sees 11-14 per cent gains for Adani Ports; Emami is seen rising 10-15 per cent while Samvardhana Motherson International Ltd could deliver 9-14 per cent return, Axis Securities said, based on technical analysis.
The market could see heightened volatility ahead, as the outcome of the ongoing Lok Sabha elections is due on June 4.
Adani Ports share price target Axis Securities said one can buy Adani Ports in the range of Rs 1,400-1,372 with a stop loss of Rs 1,308 for 11-14 per cent upside.
On Adani Ports, Axis Securities said the Adani group stock has demonstrated a breakout above the consolidation zone of Rs 1,224-1,400 on the weekly chart, with a strong bullish candle indicating the continuation of the uptrend.
"During the pattern formation, volume activity tends to decline, while at the breakout, there is an increase in activity, indicating heightened market participation. The stock has established a support base at Rs 1,188, holding above the 38 per cent Fibonacci Retracement level of the rally from Rs 395-1425, indicating potential medium-term support," it said.
The weekly strength indicator RSI has given a crossover above its reference line and generated a buy signal, it said. It sees Adani Ports testing levels of Rs 1,542-1585 in coming days.
Samvardhana Motherson International share price target
Axis Securities said one can buy Samvardhana Motherson International Ltd in the range of Rs 138-134 with a stop loss of Rs 130 for 9-14 per cent upside. On the daily chart, SAMIL has broken out above a two-year 'Rounded Bottom' formation at Rs 134, indicating a positive bias.
"The stock has broken above the weekly upper Bollinger Band, generating a buy signal. The stock is holding above key moving averages of 20, 50, 100, and 200 days, indicating an uptrend in both the short and medium term. The weekly strength indicator RSI is holding above its reference line indicating positive bias, it said.
The broking firm sees SAMIL testing levels of Rs 148-155 in coming days.
Metropolis Healthcare share price target Axis Securities said one can buy Metropolis Healthcare Ltd in the range of Rs 1,945-1,907 with a stop loss of Rs 1,785 for 15-19 per cent upside. Metropolis Healthcare has confirmed a breakout above the 'Multiple Resistance' zone near Rs 1,900 on the weekly chart, indicating potential continuation of its uptrend, Axis Securities said.
The stock is displaying a bullish trend on the weekly chart, characterised by higher highs and higher lows, and is further supported by an upward sloping channel, suggesting a prevailing upward bias.
"The weekly strength indicator RSI given a crossover above its reference line generated a buy signal. The weekly RSI breaking above horizontal resistance further confirms the breakout in prices. The above analysis indicates an upside of 2,210-2,285," Axis Securities said.
Emami share price target Axis Securities said one can buy Emami the range of Rs 540-530 with a stop loss of Rs 509 for 10-15 per cent upside. Emami, Axis Securities said, has confirmed a breakout above the 'Bullish Flag' pattern at Rs 524 on the daily chart, indicating the continuation of its uptrend.
"It is displaying a bullish trend on the daily chart, characterized by higher highs and higher lows, and is further supported by an upward sloping channel, suggesting a prevailing upward bias," it said. The Emami stock has established a support base at Rs 511, holding above the 23 per cent Fibonacci Retracement level of the rally from Rs 417-538, indicating potential short-term support.
"The daily strength indicator RSI given a crossover above its reference line generated a buy signal. The above analysis indicates an upside of Rs 587-615 levels," it said.