Airtel, DLF, Ashok Leyland & Birlasoft: Axis Securities' top 4 picks that can rally up to 16% in a month

Domestic brokerage firm Axis Securities has picked up four stocks, namely- Bharti Airtel, Ashok Leyland, Birlasoft and DLF- 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 16 per cent in the next one month. Here's what Axis Securities said about these stocks:

Ashok Leyland | Buy | Target Price: Rs 164-171 | Stop Loss: Rs 145 | Upside: 8-13%

Ashok Leyland on the weekly chart has decisively broken out above the 'descending triangular' pattern at Rs 150 level with a strong bullish candle indicating positive bias. The breakout is accompanied by an increase in volume confirming participation at the breakout level. The stock holds above 50 per cent Fibonacci Retracement of a rally from Rs 93-129 placed at Rs 131 forming a medium-term support zone. The weekly strength indicator RSI is holding above its reference line indicates positive momentum. The above analysis indicates an upside of Rs 164 -171 levels

Birlasoft | Buy | Target Price: Rs | Stop Loss: Rs 360-375 | Upside: 12-16%

Birlasoft on the weekly chart has decisively broken out above the 'double bottom' pattern at Rs 330, with an increase in volume, The stock holds above 61.8 per cent Fibonacci Retracement of a rally from Rs 47-585 placed at Rs 250 forming a medium-term support zone. The weekly 'Bollinger band' generated a buy signal as the stock closed above the upper Bollinger Band. The weekly strength indicator RSI is in bullish mode and the weekly RSI crossover above its reference line generated a buy signal. The above analysis indicates an upside of Rs 360-375 levels.

DLF | Buy | Target Price: Rs 510-530 | Stop Loss: Rs 438 | Upside: 10-15%

DLF on the weekly chart has decisively broken out above the medium term 'multi-year high' at Rs 452 with a bullish candle strong indicating an uptrend. The breakout is accompanied by an increase in volume confirming participation at the breakout level. The stock is well placed above 20, 50, 100 and 200 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 510-530 levels

Bharti Airtel | Buy | Target Price: Rs 849-872 | Stop Loss: Rs 772 | Upside: 7-10%

Bharti Airtel on the weekly chart broke out above medium term 'consolidation zone' between Rs 800-740 levels and starts showing a sign of reversal after forming a base at Rs 740. The stock holds above 50 per cent Fibonacci Retracement of a rally from Rs 628-860 placed at Rs 745 forming a medium-term support zone. The breakout is accompanied by an increase in volume confirming participation at the breakout level. The weekly strength indicator RSI is holding above its reference line indicates positive momentum. The above analysis indicates an upside of Rs 849-872 levels.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today)