Axis Securities has identified four stocks with significant upside potential in its latest weekly technical outlook and stock picks. According to the brokerage firm's analysis, Varun Beverages (VBL), Manappuram Finance, Endurance Technologies, and PNC Infratech are positioned for potential gains of up to 17% each. The recommendations are based on technical breakouts and strong chart patterns that signal resumption of prior uptrends.
Manappuram Finance has delivered a decisive breakout above the ₹318 resistance zone on the weekly chart, supported by a strong bullish candle formation. As reported by Axis Securities, the breakout is accompanied by notable surge in volumes, indicating strong market participation and validating the strength of the move. The stock remains positioned above all key moving averages including 20-, 50-, 100-, and 200-day SMAs, with all moving averages trending higher alongside prices. Axis Securities has projected up to 17% upside for the stock around the ₹361-₹372 range with a suggested stop loss at ₹295.
Endurance Technologies has delivered a decisive breakout from the 'Cup & Handle' formation around the ₹2,685 level on the daily chart, supported by rising volumes. According to Axis Securities, this breakout signals the resumption of the medium-term uptrend. The stock continues to form a higher tops and bottom formation and is holding firmly above its 20-, 50-, 100-, and 200-day SMAs, reconfirming a sustained positive bias. Axis Securities expects the stock to rally toward ₹2,969-₹3,010 levels on the upside, implying a potential 13% gain from its last close with a recommended stop loss of ₹2,525.
Axis Securities has maintained a 'Buy' recommendation on PNC Infratech with a target price of ₹245 against the current market price of ₹212, reflecting a potential upside of nearly 15%. The brokerage firm's technical analysis suggests the stock is positioned for sustained bullish trends based on its chart patterns and moving average configurations. The recommendation is supported by strong technical indicators including breakout patterns, volume surges, and sustained positioning above key moving averages.
Brokerages remain selectively bullish on stocks across consumption, infrastructure, retail, and cement spaces despite ongoing market volatility. According to Economic Times, other notable recommendations include Elara Securities maintaining a 'Buy' rating on Page Industries with a target price of ₹46,000 (potential upside of nearly 20%), Morgan Stanley assigning an 'Equal-Weight' rating on ITC with a target price of ₹346 (potential upside of around 12%), and Elara Securities giving an 'Accumulate' rating on JK Lakshmi Cement with a target price of ₹734 (potential upside of about 18%). Nuvama has also reiterated a 'Buy' call on Nykaa with a target price of ₹321 versus the current market price of ₹274, indicating a potential upside of 17%.
