Adani Enterprises, MGL, Laurus Labs: Axis Securities see up to 14% rise; check targets

As the Indian stock market witnessed some profit booking on Monday, domestic brokerage Axis Securities has suggested three stocks including Adani Enterprises Ltd, Mahanagar Gas Ltd and Laurus Labs Ltd to trade in the short term. The brokerage firm believes that these stocks may rise up to 12-14 per cent in the next 3-4 weeks. Here's what the brokerage firm has said about these stocks:
 

Laurus Labs | Buy | Target Price: Rs 750-785 | Stop Loss: Rs 660

Laurus Labs has registered a decisive breakout above the multi-week resistance zone near Rs 663 on the weekly chart, confirmed by a strong bullish candle, signalling a continuation of the medium-term uptrend. The stock has formed a series of higher highs and higher lows while sustaining above a rising trendline, indicating a firmly positive structure. A weekly close above the upper Bollinger Band has triggered a fresh technical buy signal, reflecting strengthening bullish momentum. Additionally, weekly RSI remains above its respective reference lines, reinforcing the bullish bias. The analysis indicates potential upside toward Rs 750-785 levels.
 

Adani Enterprises | Buy | Target Price: Rs 2,845-2,955 | Stop Loss: Rs 2,485

Adani Enterprises is holding firm above a medium-term upward sloping trendline that has been in formation since February 2023, and has recently witnessed a sharp rebound. The stock has also staged a breakout above the consolidation zone between Rs 2,060 and Rs 2,611, marked by a strong bullish candle on the weekly chart, confirming the resumption of its uptrend and signalling renewed buying interest. Adding to the bullish setup, the stock is trading above all key moving averages — 20, 50, 100, and 200-day SMA — reflecting strong underlying strength. Momentum indicators support the move, with the weekly RSI breaking above its horizontal resistance at 55 and sustaining above the reference line, signalling building bullish momentum. The above analysis indicates potential upside toward Rs 2,845-2,955 levels.
 

Mahanagar Gas | Buy | Target Price: Rs 1,645-1,700 | Stop Loss: Rs 1,405

Mahanagar Gas has established a medium-term base after finding strong support near 1,171, the 61.8 per cent Fibonacci retracement level of the rally from Rs 666 to Rs 1,988, and rebounded sharply. The stock has broken out of multiple resistance zones around Rs 1,447 on the weekly chart, marking the beginning of a fresh uptrend. A notable surge in volume during the breakout signals strong market participation, reinforcing the validity of the move. Momentum indicators further support the breakout, with the weekly RSI crossing above its signal line and triggering a fresh buy signal. Analysis indicates potential upside toward Rs 1,645-1,700 levels.