Axis Securities expects benchmark Nifty and sub-index Nifty Bank to trade with a mixed bias in the 24,700-23600 and the 52,800-51,300 zones, respectively, this week. On the technical play, the domestic brokerage prefers three counters -- namely Aegis Logistics Ltd, Laurus Labs Ltd and Piramal Enterprises Ltd -- with up to 20 per cent upside potential in the next three to four weeks.
Here's the stock price targets, analysis and other crucial details about these 3 technical bets:
* Aegis Logistics
Buy range: Rs 895-879 | Stop loss: Rs 813 | Upside: 17% –20%
"The stock has decisively broken out of a 'Falling Channel' pattern at Rs 823 level on weekly charts with a strong bullish candle, signalling a continuation of the medium-term uptrend. The stock is holding above its key short and medium-term daily moving averages (20-, 50-, 100-, and 200-day), indicating a positive bias. This indicates an upside of Rs 1,035-1,060 levels," Axis Sec stated.
* Laurus Labs
Buy range: Rs 555-545 | Stop loss: Rs 513 | Upside: 13% –17%
"The stock has confirmed a breakout from a 'Rounded Bottom' pattern at Rs 950 level on weekly charts with a sizable bullish candle, suggesting a continuation of the medium-term uptrend. The stock is forming higher highs and higher lows on the weekly chart while holding above an upward-sloping trendline, indicating a positive bias. This indicates an upside of Rs 624-645 levels," the brokerage said.
* Piramal Enterprises
Buy range: Rs 1,160-1,138 | Stop loss: Rs 1,075 | Upside: 13% –17%
"The counter has successfully broken out of an 'Inverted Head & Shoulders' pattern at Rs 1,140 level on weekly charts, signaling the beginning of a medium-term uptrend. The increased volume activity at the breakout level indicates a strong influx of market participants, reinforcing the breakout's significance. This implies an upside of Rs 1,297-1,345 levels," Axis Sec mentioned.
Fundamentally, the brokerage likes Global Health Ltd (the parent company of Medanta hospitals) with an upside potential of 11 per cent over the next six to nine months.
* Global Health
Buy range: Rs 1,080 | Upside: 11%
"The shift in the IPD (in-patient department) revenue mix from Cash to TPA appears to be temporary and it is anticipated that the mix will return to its previous state soon. Medanta has acquired land in Mumbai for the construction of a 500+ bed hospital, with the total cost of acquisition and construction amounting to Rs 1,200 crore. The new hospital is expected to generate revenue in the range of Rs 700 to Rs 800 crore and achieve a potential profit of around Rs 200 crore. We recommend a BUY rating on the stock with a target price of Rs 1,200/share, implying an upside of 11 per cent," Axis Securities stated.
Medanta reported revenue of Rs 957 crore in Q2 FY25 driven by a flat ARPOB (Average Revenue Per Occupied Bed) and a slight increase in occupancies.