Engineers India, Mankind, Galaxy Surfactants: Top stocks to buy; check price targets & stop loss

Amid the rising selling pressure in the Indian equities, domestic brokerage firm Axis Direct has suggested select stocks including Mankind Pharma Ltd, Engineers India and Galaxy Surfactants to buy for short-term gains based on their strong charts and sound technical parameters to make double-digit gains in short-term. Here's what brokerage firm have to say on these stocks:

Galaxy Surfactants | Buy | Target Price: Rs 2,670-2,750 | Stop Loss: Rs 2,080
Galaxy Surfactants Ltd has formed a bullish candle on the weekly charts and seems to be heading higher after retesting a breakout level. The up move after the retest is backed by rising volumes, indicating increasing participation in the up move. The stock is firmly positioned above its 20-, 50-, 100-, and 200-day SMAs, with all key moving averages trending higher in sync with price action. This confirms a strong bullish structure. RSI plotted on the weekly time frame can be seen moving higher, indicating increasing bullish momentum in the stock The above analysis indicates an upside potential towards the Rs 2670-2,750 levels.

Mankind Pharma | Buy | Target Price: Rs 2,695-2,760 | Stop Loss: Rs 2,365
Mankind Pharma has been forming a higher high higher low pattern on the weekly charts after bouncing off the 50 per cent retracement level of the rise from Rs 1,900–2,638 level. This up move is backed by rising volume, indicating participation in the up move. The stock is firmly positioned above its 20-, 50-, 100-, and 200-day SMAs, this confirms a strong bullish structure. Also, the Bollinger bands plotted on the daily time frame can be seen moving higher, indicating expanding volatility as the stock rises. The RSI on the weekly time frame an be seen moving higher, indicating increasing bullish momentum in the stock. The above analysis indicates an upside potential towards the Rs 2,695-2,760 levels.

Engineers India | Buy | Target Price: Rs 335-345 | Stop Loss: Rs 275
Engineers India Ltd has moved out of a rounding bottom pattern on the weekly charts. The breakout was also backed by rising volume indicating increasing participation in the breakout. The stock has been riding the upper band of the weekly and the monthly Bollinger bands (20,2), representing increased momentum. The stock is firmly positioned above its 20-, 50-, 100-, and 200-day SMAs; this confirms a strong bullish structure. The RSI plotted on the weekly charts can be seen rising, indicating increasing bullish momentum on both the short and the medium time frame. The above analysis indicates upside potential towards the Rs 335-345 levels.