Domestic brokerage firms including Ashika Stock Broking and SMC Global Securities are positive on the select stocks, namely- Hindustan Aeronautics, Escorts Kubota, Apollo Hospitals Enterprises and Info Edge (India) as the Q4 results season is over. The brokerage firms believe that these stocks are headed for a strong upside in the near-term on the basis of their sound technical setup. Here is what the brokerage firms have to say:Hindustan Aeronautics | Buy | Target Price: Rs 3,500 | Upside: 10.8% Hindustan Aeronautics has been on a sequential uptrend with its consecutive higher high formation in weekly and monthly time frames denoting that the longer-term trend continues to remain positive with no signs of exhaustion yet. On the oscillator front, the stock is trading in a neutral price region indicating room for further upside remains. Volume concentration in recent periods denotes that mass participation has been driving the prices higher. Hence one can accumulate the stock at current levels with an upside target of Rs 3,500 in the near termRecommended by: Ashika Stock Broking
Watch: Multibagger stocks: HDFC Bank, Bharat Dynamics, ICICI Bank, Titan among Goldman Sachs' India multibagger stocks listInfo Edge (India) | Buy | Target Price: Rs 5,000-5,050 | Stop Loss: Rs 3,700 Info Edge can be seen trading under pressure for the last two years as prices have witnessed a series of declines from Rs 7,200 levels to Rs 3,300 levels. On broader charts, the stock formed a “Double Bottom” pattern around Rs 3,300 levels and bounced sharply thereon to reclaim a fresh move above its 200-day exponential moving average on weekly intervals. At the current juncture, the stock has given a fresh breakout above the falling trend line of the declining channel. The breakout has been witnessed with marginally higher volumes, which suggests a long build-up into the prices. Therefore, one can buy the stock in the range of Rs 4,250-4,270 levels for the upside target of Rs 5,000-5,050 levels with stop loss below Rs 3,700 levels.Recommended by: SMC Global SecuritiesEscorts Kubota | Buy | Target Price: Rs 2,385 | Upside: 9.1% Escorts' price consolidation for the past few months has led prices to form a bullish 'Head & Shoulder' formation in the stock indicating a rally is likely to sustain. The neckline of the said pattern is commensurate at Rs 2,140 which has been decisively breached and trading comfortably above it. On the 14-period RSI front, fresh buy crossover can be seen and nesting around the 60-level mark. Hereon it can be expected that prices to scale further higher and breach past the previous swing high toward Rs 2,385 in the near term.Recommended by: Ashika Stock Broking
Apollo Hospitals Enterprise | Buy | Target Price: Rs 5,450-5,500 | Stop Loss: Rs 4,550 From the last six months, Apollo Hospitals has been consolidating in a broader range of Rs 4,900-4.150 levels as big wild swings kept the stock volatile over the period of months. At the current juncture, a fresh breakout in prices has been witnessed, after a period of prolonged consolidation phase. The sudden spike in volumes suggests strength in current moves. Additionally, positive divergences on secondary oscillators on daily and weekly charts also support the next upswing in the prices. Therefore, one can buy the stock in the range of Rs 4,900-4,950 levels for the upside target of Rs 5,450-5,500 levels with stop loss below Rs 4,550 levels.Recommended by: SMC Global Securities
Watch: Stocks to watch on June 5, 2023: Bank of Baroda, Apollo Hospitals, Minda Corporation, others
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