DMART, Polymed, RITES, Century Ply: Axis Securities' top 4 picks that can rally up to 18% in a month

Domestic brokerage firm Axis Securities has picked up four stocks, namely Poly Medicure, Avenue Supermart (DMART), Century Plyboards and RITES in its weekly report. The brokerage believes that the technical patterns and parameters for these stocks are sound and they are poised for a strong upside of up to 18 per cent in the next one month. Here's what Axis Securities said about these stocks:Poly Medicure | Buy | Target Price: Rs 1,277-1,320 | Stop Loss: Rs 1,040 | Upside: 14-18% Poly Medicure on the weekly chart has decisively broken out above the 'multiple resistance zone' around Rs 1,050 level. Previous resistance levels often serve as support due to the principle of polarity shift. The stock witnessed a breakout above consolidation between Rs 1,050-850 range indicating a positive momentum. During the consolidation period, the trading volume exhibited a noticeable decline. At the point of breakout, there was a significant surge in volume, suggesting a renewed influx of market participants. The weekly strength indicator RSI given a crossover above its reference line generated a buy signal. The above analysis indicates an upside of Rs 1,277-1,320 levels.RITES | Buy | Target Price: Rs 444-468 | Stop Loss: Rs 372 | Upside: 12-18% RITES on the weekly chart hold a support at medium term upward sloping trend line which is in place from June 2022. indicating continuation of an uptrend. The daily 'bollinger band' generated a buy signal as stock closed above the upper Bollinger Band. It had also taken out small consolidation of the previous three week confirming a short term range bound breakout. The weekly strength indicator RSI is in bullish mode and RSI crossover above its reference line generated a buy signal. The above analysis indicates an upside of Rs 444-468 levels.Century Plyboards | Buy | Target Price: Rs 685-710 | Stop Loss: Rs 578 | Upside: 12-16% Century Ply has broken out above the medium-term 'downward sloping trendline" at Rs 620 on the weekly chart. The strong bullish candle confirms an uptrend, reflecting positive momentum in the stock. The stock has also broken above horizontal resistance at 588 level. Due to change of polarity principle previous resistance of polarity principle previous resistance of Rs 588 will act as support. The stock is forming a higher high-low formation on a weekly chart indicating positive momentum. The weekly strength indicator RSI is holding above its reference line indicates positive momentum. The above analysis indicates an upside of Rs 685-710 levels.Avenue Supermart | Buy | Target Price: Rs 1,277-1,320 | Stop Loss: Rs 3,720 | Upside: 11-15% On the weekly chart, DMART has formed a 'descending triangle' pattern and has broken out from the pattern at Rs 3,770 with a strong bullish candle, indicating an uptrend. The breakout, accompanied by a surge in volume, signifies a positive bias and active participation during the breakout. The stock is well placed above 20, 50 and 100 daily SMA indicating positive momentum. The weekly strength indicator RSI is holding above its reference line indicates positive momentum. The above analysis indicates an upside of Rs 4,385-4,530 levels.

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