As the Q4 results season comes to an end, domestic brokerage firms like Ashika Stock Broking and SMC Global Securities are bullish on a small group of stocks, including Hindustan Aeronautics, Escorts Kubota, Apollo Hospitals Enterprises, and Info Edge (India). Based on their solid technical setup, the brokerage companies feel that these stocks are poised for a significant upside in the short term. What the brokerage companies have to say is as follows:
Hindustan Aeronautics has been in a sequential uptrend, and the development of consecutive higher highs on a weekly and monthly basis indicates that the longer-term trend is still positive and has not yet reached its peak. The oscillator shows that there is still opportunity for more upside because the company is now trading in a neutral price region. Recent volume concentration indicates that widespread participation has been raising prices. Consequently, one can buy the stock now with a short-term upside target of Rs 3,500.
Since prices began to decline from Rs 7,200 levels to Rs 3,300 levels, Info Edge has been trading under pressure over the past two years. On larger charts, the stock displayed a “Double Bottom” pattern near Rs 3,300 and then abruptly rebounded to regain a weekly move above its 200-day exponential moving average. At this point, the stock has delivered a fresh breakout over the descending channel’s trend line. The breakout was seen in slightly higher quantities, which shows that prices had a long build-up. As a result, one can purchase the stock with a stop loss below Rs 3,700 levels in the region of Rs 4,250 to 4,270 for an upside target of Rs 5,000 to 5,050.
Escorts’ stock price has formed a bullish “Head & Shoulders” pattern as a result of recent price consolidation, which suggests a rise is likely to continue. The neckline of the aforementioned pattern falls at Rs. 2,140, which has been categorically broken and is currently trading comfortably above it. Fresh purchase crossing can be visible and is nestling around the 60-level mark on the 14-period RSI. From this point forward, it is reasonable to anticipate that prices will continue to climb and eventually surpass the previous swing high, moving towards Rs 2,385.
The stock of Apollo Hospitals has been erratic over the past six months, but it has recently been consolidating in a wider range of Rs 4,900 to Rs 4,150. After a protracted consolidation phase, there has been a recent breakout in prices at this point. The abrupt increase in volumes points to the strength of recent movements. Positive divergences on secondary oscillators on the daily and weekly charts are another factor that supports the next price increase. Therefore, one can buy the stock in the range of Rs 4,900-4,950 levels for the upside target of Rs 5,450-5,500 levels with stop loss below Rs 4,550 levels.
