GAIL, Radico Khaitan, Mirza, Finolex Cables: 4 stocks that can rallt up to 15% in near term

Brokerage firms Ashika Stock Broking and SMC Global are positive on select stocks including GAIL (India), Radico Khaitan, Finolex Cables and Mirza International amid the ongoing volatility in the broader market. The domestic brokerages have picked these counters as its top picks for the week as they see up to 15 per cent rise in these stocks in the near term. Here's what Ashika said about these two counters:

| GAIL Ltd (India) | Target Price: Rs 111-113 | Upside Potential: 10% | Stop Loss: Rs 94 |
GAIL (India) can be seen trading in a rising channel with formation of higher bottom patterns on broader charts. Last week, the stock once again managed to take support at its 200 days exponential moving average and bounce sharply. The recent up move in prices is observed along with marginally higher volumes, which suggest long build up into the stock. The upward momentum is likely to continue in upcoming sessions as well. Therefore, one can buy stock on dips in the range of Rs 100-101 levels for the upside target of Rs 111-113 levels with stop loss below Rs 94 levels.

| Radico Khaitan Ltd | Target Price: Rs 1,260-1,275 | Upside Potential: 9% | Stop Loss: Rs 1,080 |
Radico Khaitan, after testing its 52-week high of Rs 1,230, has witnessed profit booking at higher levels and once again retraced back towards Rs 1,080 levels. The pull back in prices was seen with formation of lower high patterns. However last week once again momentum was seen picking up as prices have given sharp recovery above the falling trend line of downward sloping channel. The rising volumes along with rise in price suggest the next upswing into the prices. Therefore, one can buy stock in the range of Rs 1,150-1,160 levels for the upside target of Rs 1,260-1,275 levels with stop loss below Rs 1,080 levels.

| Finolex Cables Ltd | Target Price: Rs 800 | Upside Potential: 12% |
Finolex Cables has been on a secular uptrend with consecutive higher high formation. The last two months' price rise is well supported by strong volume signaling larger participation. The stock has generated a breakout above a bullish flag like formation signaling continuation of the up move thus offering fresh entry opportunity. On the larger time scale the stock is on the verge of breaking past the all-time high of Rs 758, breach of which would further elevate the buying interest. Hence, one can expect the stock to head higher hereon towards Rs 800 in near term.

| Mirza International Ltd | Target Price: Rs 330 | Upside Potential: 15% |
The stock prices have generated a breakout above the last three months' range (Rs 220-260) signaling continuation of the up move thus offering fresh entry opportunity. The level of Rs 220 has acted as a major support level and in the process has resulted in a bullish triple bottom formation. The neckline of the pattern is seen around Rs 260. Hence, a clear breakout of the said pattern has been initiated with large volume concentration can also be seen to validate the pattern as well. Hence, one can expect the stock to head towards Rs 330 as it happens to be the November 2022 high.

(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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