Tata Power, IndusInd Bank among top picks that may deliver double digit gains
Axis Securities said that IndusInd Bank has delivered a decisive breakout on the weekly chart, completing an ascending triangle pattern and signalling the start of a medium-term uptrend.
- Jan 5, 2026,
- Updated Jan 5, 2026 1:36 PM IST
Amid the rising volatility in the broader markets, domestic brokerage firm Axis Securities has suggested three stocks on the basis of strong technical parameters. These names include counters like IndusInd Bank, DOMS Industries and Tata Power Company as the brokerage firm believes that the stock is headed for double-digit gains in the next 3-4 weeks. Here's what Axis Securities said on these stocks:
IndusInd Bank | Buy | Target Price: Rs 950-1,006 | Stop Loss: Rs 848
IndusInd Bank Ltd has delivered a decisive breakout above the Rs 893 level on the weekly chart, completing an ascending triangle pattern and signalling the start of a medium-term uptrend. The stock continues to print a higher high–higher low structure and is sustaining above its rising trendline, reinforcing the bullish setup. Momentum indicators further support this view, with the weekly RSI trending higher, holding above its reference line, and maintaining an upward-sloping trendline—confirming strong positive bias. Overall, the setup points to sustained buying interest with scope for further upside in the medium term. The above analysis indicates an upside toward Rs 950-1,006 levels.
DOMS Industries | Buy | Target Price: Rs 2,900-3,000 | Stop Loss: Rs 2,511
DOMS Industries Ltd has registered a decisive breakout from a prolonged symmetrical triangle consolidation at Rs 2,625 on the weekly charts, confirmed by a strong bullish candlestick. This breakout signals the continuation of a medium-term uptrend after nearly a year of consolidation. The stock continues to trade above key moving averages (20-, 50-, 100-, and 200-day SMAs), reflecting strong momentum and a positive bias across both short- and medium-term timeframes. Weekly RSI has broken above its horizontal resistance at 50, reinforcing persistent strength and a firming bullish outlook. It continues to hold above its reference line, indicating a positive bias. The above analysis indicates an upside toward Rs 2,900-3,000 levels.
Tata Power Company | Buy | Target Price: Rs 413-420 | Stop Loss: Rs 374
Tata Power Company Ltd remains in a medium-term rising channel on the weekly charts and has rebounded sharply after taking support at the lower band this week, signalling renewed buying interest. Rising volumes at the support zone confirm increased participation and conviction. The stock has rebounded sharply from the 50 per cent Fibonacci retracement of the February 2025 till June 2025 rally, reaffirming the Rs 372 zone as a solid support base. The weekly RSI has delivered a positive crossover above its reference line, generating a fresh buy signal, while its rebound from the 44 support level reinforces underlying strength. Weekly RSI gives a crossover above its reference line, validating the strength in price action. The above analysis indicates an upside toward Rs 413-420 levels.
Amid the rising volatility in the broader markets, domestic brokerage firm Axis Securities has suggested three stocks on the basis of strong technical parameters. These names include counters like IndusInd Bank, DOMS Industries and Tata Power Company as the brokerage firm believes that the stock is headed for double-digit gains in the next 3-4 weeks. Here's what Axis Securities said on these stocks:
IndusInd Bank | Buy | Target Price: Rs 950-1,006 | Stop Loss: Rs 848
IndusInd Bank Ltd has delivered a decisive breakout above the Rs 893 level on the weekly chart, completing an ascending triangle pattern and signalling the start of a medium-term uptrend. The stock continues to print a higher high–higher low structure and is sustaining above its rising trendline, reinforcing the bullish setup. Momentum indicators further support this view, with the weekly RSI trending higher, holding above its reference line, and maintaining an upward-sloping trendline—confirming strong positive bias. Overall, the setup points to sustained buying interest with scope for further upside in the medium term. The above analysis indicates an upside toward Rs 950-1,006 levels.
DOMS Industries | Buy | Target Price: Rs 2,900-3,000 | Stop Loss: Rs 2,511
DOMS Industries Ltd has registered a decisive breakout from a prolonged symmetrical triangle consolidation at Rs 2,625 on the weekly charts, confirmed by a strong bullish candlestick. This breakout signals the continuation of a medium-term uptrend after nearly a year of consolidation. The stock continues to trade above key moving averages (20-, 50-, 100-, and 200-day SMAs), reflecting strong momentum and a positive bias across both short- and medium-term timeframes. Weekly RSI has broken above its horizontal resistance at 50, reinforcing persistent strength and a firming bullish outlook. It continues to hold above its reference line, indicating a positive bias. The above analysis indicates an upside toward Rs 2,900-3,000 levels.
Tata Power Company | Buy | Target Price: Rs 413-420 | Stop Loss: Rs 374
Tata Power Company Ltd remains in a medium-term rising channel on the weekly charts and has rebounded sharply after taking support at the lower band this week, signalling renewed buying interest. Rising volumes at the support zone confirm increased participation and conviction. The stock has rebounded sharply from the 50 per cent Fibonacci retracement of the February 2025 till June 2025 rally, reaffirming the Rs 372 zone as a solid support base. The weekly RSI has delivered a positive crossover above its reference line, generating a fresh buy signal, while its rebound from the 44 support level reinforces underlying strength. Weekly RSI gives a crossover above its reference line, validating the strength in price action. The above analysis indicates an upside toward Rs 413-420 levels.