Ashok Leyland, Affle 3i, Concord Biotech among top stock picks for decent short term gains

Amid the recovery in the Indian equity markets, domestic brokerage firms SMC Global Securites and Canara Bank Securites have suggested select stocks including Sundram Fasteners Ltd, Concord Biotech, Ashok Leyland and Affle 3i (Affle India Ltd) based on their strong charts and sound technical parameters for short-term gains. Here's what the brokerage firms have to say on these stocks:

Ashok Leyland | Buy | Target Price: Rs 182-185 | Stop Loss: Rs 152 Ashok Leyland Ltd is trading within a symmetrical triangle on the daily chart and appears to be on the verge of a bullish breakout after a prolonged consolidation phase. The stock has been forming higher lows while the falling trend line has capped upside attempts, indicating a gradual build-up in buying momentum. The recent move above the upper trend line, supported by improving RSI and a positive MACD crossover, suggests strengthening bullish sentiment. The immediate trend line resistance was placed near Rs 164-166, which the stock has now started to overcome, while the rising trend line support is positioned around Rs 155-157. A sustained close above Rs 166 could confirm the breakout and open the way for an advance moves. Therefore, one can accumulate a stock on dips in range of Rs 162-164 levels with the expected upside of Rs 182-185 levels with stop loss below Rs 152 levels.Recommended by: SMC Global Securities

Affle 3i | Buy | Target Price: Rs 1,723.90-1,794.20 | Stop Loss: Rs 1,535 The chart of Affle 3i is showing a bullish breakout from a long-term downward trendline. Price has again moved above all of the moving averages, indicating improving momentum and strengthening trend structure. RSI is near the bullish zone around 57, reflecting firm momentum with room before overbought territory, supporting further upside without signalling exhaustion. We recommend to buy at current market price Rs 1,609.3 with short-term targets of Rs 1,723.90-1,794.20, and keep a stop loss at Rs 1,535.Recommended by: Canara Bank Securities

Concord Biotech | Buy | Target Price: Rs 1,540-1,550 | Stop Loss: Rs 1,275 Concord Biotech Ltd is exhibiting an ascending triangle formation on the daily chart, reflecting sustained accumulation after a strong recovery from lower levels. The stock has been making higher lows while repeatedly testing the horizontal resistance near Rs 1,390-1,410, indicating increasing buying pressure. The recent breakout above the consolidation range, backed by improving RSI and a positive MACD crossover, suggests strengthening bullish momentum. The rising trend line support is placed around Rs 1,270-1,290, which is expected to provide immediate support on any pullback, while the Rs 1,390-1,410 zone now becomes the key breakout support. A sustained close above Rs 1,410 could extend the next up move. Therefore, one can accumulate a stock on dips in range of Rs 1,380-1,400 levels for the expected upside of Rs 1,540-1,550 levels with stop loss below Rs 1,275 levelsRecommended by: SMC Global Securities

Sundram Fasteners | Buy | Target Price: Rs 1,040.80-1,134 | Stop Loss: Rs 905.35 The chart of Sundram Fasteners is showing a bullish breakout from a long-term downward trendline. Price has again moved above most of the moving averages, indicating improving momentum and strengthening trend structure. RSI is near the bullish zone around 64, reflecting firm momentum with room before overbought territory, supporting further upside without signalling exhaustion. We recommend to buy at current market price Rs 969.25 with short-term targets of Rs 1,040.80-1,134, and keep a stop loss at Rs 905.35.Recommended by: Canara Bank Securities