Hudco on the weekly chart has decisively broken out above the medium term 'cup and handle' pattern at Rs 59 with bullish candle strong indicating an uptrend. Domestic brokerage firm Axis Securities has picked up four stocks, namely- Apollo Hospitals, Housing & Urban Development Corporation (Hudco), Gokaldas Exports, and Westlife Foodworld - in its weekly report. The brokerage believes that the technical patterns and parameters for these stocks are sound and they are poised for a strong upside of up to 22 per cent in the next one month. Here's what Axis Securities said about these stocks:
Apollo Hospitals Enterprise | Buy | Target Price: 5,355-5,500 | Stop Loss: Rs 4,630 | Upside: 10-13%
Apollo Hospitals, on the weekly charts, has decisively broken out above the 'cup and handle' pattern at Rs 4,900 level. The breakout is accompanied by an increase in volume confirming participation at the breakout level The stock is well placed above 20, 50 and 100 daily SMA indicating positive momentum. The weekly strength indicator RSI is in bullish mode and the daily RSI crossover above its reference line generated a buy signal. The above analysis indicates an upside of Rs 5,355-5,500 levels.
Gokaldas Exports | Buy | Target Price: 490-510 | Stop Loss: Rs 415 | Upside: 11-16%
Gokaldas Exports on the weekly chart has decisively broken out above the medium-term 'symmetrical triangle' pattern at Rs 415 with a strong bullish candle indicating positive momentum. The weekly 'Bollinger band' generated a buy signal as the stock closed above the upper Bollinger Band. The stock holds above 50 per cent Fibonacci Retracement of a rally from Rs 75-520 placed at Rs 297 forming a medium-term support zone. The weekly strength indicator RSI is holding above its reference line indicates positive momentum. The above analysis indicates an upside of Rs 490-510 levels
Housing & Urban Development Corporation | Buy | Target Price: 69-72| Stop Loss: Rs 52 | Upside: 17-22%
Hudco on the weekly chart has decisively broken out above the medium-term 'cup and handle' pattern at Rs 59 with bullish candle strong indicating an uptrend. The stock is forming a higher high-low formation on a weekly chart indicating positive momentum. The weekly strength indicator RSI is holding above its reference line indicates positive momentum. The above analysis indicates an upside of Rs 69-72 levels
Westlife Foodworld | Buy | Target Price: 929-955 | Stop Loss: Rs 761 | Upside: 14-17%
Westlife Foodworld on the weekly chart broken out above the 'rounded bottom' pattern at Rs 815 level indicating a positive trend. The breakout is accompanied by an increase in volume confirming participation at the breakout level. The stock is moving in a rising channel in the medium term. Recently it received medium-term support. Recently it took support at the lower band of the channel and bounced back. It is heading towards the upper band of the channel. The weekly strength indicator RSI is holding above its reference line indicates positive momentum. The above analysis indicates an upside of Rs 929-955 levels.
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