ABB, Mrs Bectors, Gujarat Fluoro & Carborundum: Axis Securities suggest up to 15% rise in these 4 stocks

Domestic brokerage firm Axis Securities has picked four stocks, namely- ABB India, Mrs Bectors Food Specialties, Gujarat Fluorochemicals, Carborundum Universal - in its weekly report. These stocks are headed for an upside of up to 15 per cent on a technical basis, said the brokerage. Investors can initiate a trade in these counters with a 3-4 weeks view. Here's what Axis Securities said about these stocks:

| ABB India | Buy | Target Price: Rs 2,940 | Stop Loss: Rs 3,330-3,450 | Upside Potential: 8-12% |
ABB India on the weekly chart has decisively broken out above the 'falling channel' with a strong bullish candle. The stock is holding above 50 per cent Fibonacci retracement of a rally Rs 1,944-3,433 which is placed at Rs 2,687 forming a medium-term support zone. It is forming a higher high-low on the weekly charts. This formation indicates a positive uptrend. The weekly strength indicator RSI is in bullish mode and weekly RSI crossover above its reference line generated a buy signal.

| Mrs Bectors Food Specialties | Buy | Target Price: Rs 575-590 | Stop Loss: Rs 466 | Upside Potential: 14-17% |
Mrs Bectors Food Specialties on the weekly chart has decisively broken out above the 'horizontal resistance' above Rs 460 level. The breakout is accompanied with an increase in volume confirming participation at breakout level. The stock is well placed above 20, 50, 100 and 200-daily SMA indicating positive momentum. The weekly strength indicator RSI is holding above its reference line indicates positive momentum.

| Gujarat Fluorochemicals | Buy | Target Price: Rs 3,310-3,385 | Stop Loss: Rs 2,695 | Upside Potential: 14-17% |
Gujarat Fluorochemicals on the weekly charts have decisively broken out above the 'falling channel' formation indicating positive bias. The breakout is accompanied by an increase in volume confirming participation at the breakout level. The stock is holding above the medium-term horizontal support zone of around Rs 2,400, which will act as a medium-term support zone. The weekly strength indicator RSI is in bullish mode and the weekly RSI crossover above its reference line generated a buy signal.

| Carborundum Universal | Buy | Target Price: Rs 1,075-1,120 | Stop Loss: Rs 925 | Upside Potential: 10-15% |
Carborundum Universal on the weekly chart has decisively broken out above the 'cup and handle' pattern above Rs 960 level. The breakout was witnessed last week. The stock retested a breakout area and close above the previous week's breakout candle indicating positive bias. The breakout is accompanied by an increase in volume confirming participation at the breakout level. The weekly strength indicator RSI is holding above the 50 mark and also above its reference line indicating positive momentum in the stock.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today)

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