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Synopsis: Axis Securities has identified three stocks—Bharat Petroleum Corporation Ltd (BPCL), CESC Ltd, and Krishna Institute of Medical Sciences Ltd (KIMS)—as top picks for short-term gains, forecasting potential returns of up to 18% within the next 3-4 weeks based on technical analysis.
Axis Securities, a prominent brokerage firm, has highlighted three stocks—Bharat Petroleum Corporation Ltd (BPCL), CESC Ltd, and Krishna Institute of Medical Sciences Ltd (KIMS)—as key opportunities for short-term investors. Based on a detailed technical analysis, the firm projects potential returns of up to 18% over the next 3-4 weeks.
Krishna Institute of Medical Sciences Ltd (KIMS): The stock has shown a strong breakout above the 'rounded bottom' pattern at Rs2,356 on the weekly chart, signaling a continuation of its medium-term uptrend. KIMS has been forming higher highs and higher lows, with its price staying above key moving averages. The weekly RSI indicator is also positive, suggesting further upside potential. Axis Securities has set a target price between Rs2,587 and Rs2,700, with a stop-loss at Rs2,300.
CESC Ltd: CESC has been trending within a medium-term rising channel and recently found support at the lower band. The stock confirmed a breakout above the small descending triangle pattern at Rs180, indicating a continuation of the uptrend. With support at the 38% Fibonacci retracement level and a positive RSI crossover, CESC is expected to reach between Rs209 and Rs216, with a stop-loss at Rs170.
Bharat Petroleum Corporation Ltd (BPCL): BPCL has recently broken out above the consolidation zone pattern between Rs330 and Rs273, signaling the start of an uptrend. The stock bounced back sharply after a brief 'throwback' around the breakout area, closing above the weekly upper Bollinger Band. This movement, supported by a positive RSI, indicates further gains. Axis Securities has set a target price range of Rs373 to Rs385, with a stop-loss at Rs330.
These recommendations are purely based on technical indicators, and investors should consider the associated risks before making any investment decisions.
Disclaimer: The above views and stock recommendations are based on technical analysis and do not constitute investment advice. Investors are advised to consult with a certified financial advisor before making any investment decisions.
