Axis Securities has come out with 4 technical inventory picks particularly Cummins India, Hindustan Aeronautics (HAL), Oil India and Suprajit Engineering, which it believes can ship as much as 19 per cent upside within the subsequent 3-4 weeks. These shares have damaged above their key resistance ranges on the weekly chart, Axis Securities stated, indicating optimistic bias. As per the brokerage, Oil India presents the utmost upside potential, adopted by Suprajit Engineering, HAL and Cummins India. 

Cummins India | Purchase Vary: Rs 1,590-1560 | Cease loss: Rs 1,513 | Upside: 8–11%

Cummins India has decisively damaged a consolidation vary of Rs 1,550-1,350 on the weekly chart, with a robust bullish candle final week. The inventory held above the decrease band of a rising channel and bounced again, indicating a optimistic bias. The Cummins India inventory is now headed in direction of the higher band of rising channel. The inventory is forming a better high-low on the weekly chart. This formation signifies a optimistic uptrend. The weekly energy indicator RSI can also be holding above its reference line that signifies a optimistic momentum. The above evaluation signifies an upside of Rs 1,700-1,755 ranges. The holding interval is 3-4 weeks.

HAL | Purchase Vary: Rs 2,600-2,548 | Cease loss: Rs 2,465 | Upside: 9–12%

HAL has decisively damaged the ‘Falling Channel’ positioned at Rs 2,550. The breakout is accompanied with a rise in quantity, confirming participation on the breakout degree. The HAL inventory is effectively positioned above 20-, 50-, 100-  and 200-day SMA, indicating optimistic momentum. The weekly energy indicator RSI is in bullish mode and weekly RSI’s crossover above its reference line generated a ‘purchase’ sign. The above evaluation signifies the inventory can take a look at Rs 2,795-2,880 ranges within the subsequent 3 to 4 weeks.

Oil India | Purchase Vary: Rs 254-250 | Cease loss: Rs 233 | Upside: 15–19%

Oil India has decisively damaged its ‘Cup and Deal with sample ‘ formation on the weekly chart, indicating a optimistic bias. The breakout was accompanied with a rise in quantity, confirming participation on the breakout degree. The Oil India inventory is forming a better high-low on the weekly chart. This formation signifies a optimistic uptrend. The weekly energy indicator RSI is in bullish mode and the weekly RSI’s crossover above its reference line generated a ‘purchase’ sign. The above evaluation signifies an upside in direction of Rs 290-300 degree within the subsequent 3 to 4 weeks.

Suprajit Engineering| Purchase Vary: Rs 356-350 | Cease loss: Rs 334 | Upside: 11–15%

Suprajit Engineering has decisively damaged above a  ‘Symmetrical Triangle’ sample above the Rs 347 degree on the weekly chart. The breakout is accompanied with a rise in quantity, confirming participation at breakout degree. The inventory on a every day chart additionally closed above the higher Bollinger band, indicating a optimistic bias.

The weekly energy indicator RSI is in bullish mode and the weekly RSI’s crossover above its reference line generated a ‘purchase’ sign The above evaluation signifies an upside for Suprajit Engineering  in direction of Rs 391-405 ranges. The holding interval is 3 to 4 weeks.

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

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