The Nifty Realty has delivered returns of 302%, followed by metals at 286% and auto at 256%. All of them have beaten the Nifty 50 benchmark’s returns of 127% in the period. 
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The Nifty Realty has delivered returns of 302%, followed by metals at 286% and auto at 256%. All of them have beaten the Nifty 50 benchmark’s returns of 127% in the period. Shares of IT major L&T Technology Services Ltd (LTTS), real estate developer Oberoi Realty and household appliances maker Blue Star Ltd may deliver up to 16 per cent returns over the next 3-4 weeks, Axis Securities said in a weekly note. The stocks have broken above their key zones and looked solid on weekly charts, the brokerage said, as it suggested a technical ‘buy’ on the three stocks.
L&T Technology Services Ltd | Buy range: Rs 5,779-5,665 | Stop loss: Rs 5,513 | Potential upside: 7–10%
In the case of LTTS, the stock has demonstrated a breakout above the ‘Falling Channel’ at Rs 5,755 on the daily chart, indicating continuation of uptrend. Axis Securities said a diminished volume during channel formation followed by a surge at the breakout suggests increased market participation at the breakout point.
The stock, the brokerage said, is forming higher highs and higher lows while holding above the upward-sloping trendline, indicating a positive bias in the medium term.
“The daily RSI strength indicator has crossed above its reference line, generating a buy signal. The above analysis indicates an up to Rs 6,140-6,285 levels,” it said.
Oberoi Realty Ltd | Buy range: Rs 1,800-1,764 | Stop loss: Rs 1,713 | Potential upside: 8–11%
Oberoi Realty, Axis Securities said, has broken out above the Symmetrical Triangle pattern at Rs 1,797 with a strong bullish candle on the weekly chart, suggesting the onset of a medium-term uptrend. The stock is trading above its 20-, 50-, 100-, and 200-day SMAs, indicating a strong positive bias.
“The stock found support at the 38% Fibonacci retracement level of the rally from Rs 1,360-1,953, positioned at Rs 1,721, confirming a medium-term support base. The Weekly RSI strength indicator has crossed above its reference line, generating a buy signal,” the domestic brokerage said.
Axis Securities expects the stock to hit Rs 1,920-1,985 levels in the next three to four weeks.
Blue Star Ltd | Buy range: Rs 1,860-1,824 | Stop loss: Rs 1,721 | Potential upside: 13–16%
In the case of Blue Star, the stock has confirmed a breakout above its consolidation zone of Rs 1,800-1,500 on the weekly chart, indicating the continuation of a medium-term uptrend. The stock found support at its 38 per cent Fibonacci retracement level of the rally from Rs 902-1,898, positioned at Rs 1,514, confirming a medium-term support base.
“Blue Star closed above the weekly upper Bollinger Band, thereby generating a buy signal. The Weekly RSI strength indicator has crossed above its reference line, generating a buy signal,” Axis Securities said.
The brokerage suggested an upside target of Rs 2,085-2,130 levels over the next 3-4 weeks.
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