MTAR Tech, KPR Mills, Colgate: Axis Securities prefers these 3 stocks for short term

Domestic brokerage firm Axis Securities has picked up three stocks, namely- MTAR Technologies, Colgate Palmolive (India) and KPR Mills in its weekly report. The technical analysts at the brokerage believe that the chart patterns and other parameters for these stocks are sound and they are poised for a strong upside of up to 18 per cent in the next 3-4 weeks. Here's what Axis Securities said about these stocks:

KPR Mills | Buy Range: Rs 815-799 | Target Price: Rs 900-950 | Stop Loss: Rs 760
KPR Mills has demonstrated a robust breakout from a medium-term 'multiple resistance' zone around Rs 775 level on the weekly chart with a strong bullish candle indicating positive bias. The stock experienced a surge in trading volume during the breakout, indicating a substantial increase in market participation at the breakout level. The stock is exhibiting a pattern of higher highs and lows on the weekly chart, forming an upward-sloping sloping trendline, indicating a strong uptrend. The weekly strength indicator RSI given a crossover above its reference line generated a buy signal. The above analysis indicates an upside of Rs 900-950 levels.

Colgate Palmolive (India) | Buy Range: Rs 2,100-2,058 | Target Price: Rs 2,200-2,285 | Stop Loss: Rs 2,020
On the weekly chart, Colgate Palmolive after a sharp rally, entered a consolidation phase and has recently broken out above the consolidation zone between the Rs 2,060-1,920 range, indicating a the Rs 2,060-1,920 range, indicating a strong continuation of the uptrend. The stock is currently following a channel formation, having found support at the lower band recently. It is anticipated to move towards the upper band of the channel. Volume activity during the pattern formation period declined, but it surged at the breakout, breakout, reaffirming reaffirming the positive positive bias in the stock trend. The weekly strength indicator RSI given a crossover above its reference line generated a buy signal. The above analysis indicates an upside of Rs 2,200-2,285 levels.

MTAR Technologies | Buy Range: Rs 2,750-2696 | Target Price: Rs 3,000-3,100 | Stop Loss: Rs 2,585
MTAR Tech broke above the horizontal resistance at Rs 2,500, forming a base around this level. According to the principle of polarity, the previous resistance at Rs 2,500 is expected to act as a support going forward. The stock rebounded to Rs 2,920, experienced a throwback to the breakout area, and then sharply bounced back, retesting and confirming the breakout zone. The stock is holding above key averages of 20, 50, 100, and 200 days simple moving average (SMA), signaling a strong uptrend in the stock. The weekly strength indicator RSI given a crossover above its reference line generated a buy signal. The above analysis indicates an upside of Rs 3,000-3100 levels

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