Home / Markets / Stock Markets /  BHEL among top 4 stock picks by Axis Securities. Details here
Back

Indian stock indices traded largely steady on Wednesday morning and continued to stay at their all-time highs for the third straight day. On the weekly chart, the Nifty index has formed a Bullish candle which has totally engulfed its previous week's move forming a ‘Bullish Engulfing’ candlestick formation indicating a positive trend, as per brokerage and research firm Axis Securities.

Axis Securities' weekly top stock picks -

Bharat Heavy Electricals Ltd (BHEL): The daily and weekly strength indicator RSI is in bullish mode and weekly RSI holding above its reference line which indicate positive momentum. The above analysis indicates an upside of 90-99 levels, the note stated.

Redington Ltd: The weekly 'Bollinger band' generated a buy signal as stock closed above the upper Bollinger Band. Stock is well placed above 20, 50, 100 and 200 key averages indicating positive momentum. The above analysis indicates an upside of 199-210 levels, as per Axis Securities.

Apollo Hospitals Enterprise Ltd: “Stock is well placed above 20, 50, 100 and 200 key averages indicating positive momentum. The weekly strength indicator relative strength index (RSI) is holding above a reading of 50 mark and its reference line indicates positive momentum. The above analysis indicates an upside of 5,220-5,350 levels."

RBL Bank Ltd: Stock is also respecting the upward sloping trendline and forming a higher high-low on daily chart. This formation indicates a positive uptrend. The daily “Bollinger band" generated a buy signal as stock closed above the upper Bollinger Band. The daily strength indicator RSI is in bullish mode and daily RSI cross above its reference line which had generated a buy signal. The above analysis indicates an upside of 169-176 levels, said Axis.

The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Take the test
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less

Recommended For You

GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout