Home brokerage agency Axis Securities has picked 4 shares, particularly – Ashok Leyland, KPIT Applied sciences, Supreme Industries and Cholamandalam Funding and Finance – in its weekly report. These shares are headed for an upside of as much as 18 per cent on a technical foundation, mentioned the brokerage. Buyers can provoke a commerce in these counters with a 3-4 weeks’ view. This is what Axis Securities mentioned about these shares:

Cholamandalam Funding and Finance | Purchase | Goal Value: Rs 845-885 | Cease Loss: Rs 730 | Upside: 10-15%

Chola Finance on the weekly chart has decisively damaged out above the ‘falling channel’ with robust bullish candle. The inventory is holding above 50 per cent Fibonacci retracement of a rally Rs 469-818 which is positioned at Rs 644 forming a medium-term assist zone. The weekly power indicator RSI is in bullish mode and weekly RSI crossover above its reference line generated a purchase sign.

KPIT Applied sciences | Purchase | Goal Value: Rs 860-900 | Cease Loss: Rs 715 | Upside: 13-18%

KPIT Tech on the weekly chart has decisively damaged out above the ‘Cup and Deal with’ sample above Rs 760 stage. The inventory is nicely positioned above 20, 50, 100 and 200 each day SMA indicating constructive momentum. The weekly power indicator RSI is in bullish mode and weekly RSI crossover above its reference line generated a purchase sign.

Ashok Leyland | Purchase | Goal Value: Rs 167-173 | Cease Loss: Rs 143 | Upside: 11-15%

Ashok Leyland on the weekly chart has decisively damaged out above the ‘consolidation zone’ between Rs 152-137 vary. The inventory is holding above 38 per cent Fibonacci retracement of a rally Rs 493-168 which is positioned at Rs 131 forming a medium-term assist zone. The weekly power indicator RSI is holding above its reference line signifies constructive momentum.

Supreme Industries | Purchase | Goal Value: Rs 2,950-3,030| Cease Loss: Rs 2,453 | Upside: 13-16%

Supreme Industries, on the weekly chart, has decisively damaged out above the ‘Cup and Deal with’ sample above Rs 2,600 stage. The inventory is forming the next high-low on the weekly chart. This formation signifies a constructive uptrend. The weekly power indicator RSI is holding above the 50 mark and likewise above its reference line indicating constructive momentum within the inventory.

(Disclaimer: Suggestions, solutions, views and opinions given by the specialists are their very own. These don’t characterize the views of Enterprise At this time)

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