Hindalco, Can Fin Homes & Cholamandalam Investment: Axis Direct shares top 3 weekly technical picks

Axis Direct, the broking arm of Axis Securities, has identified Hindalco Industries, Can Fin Homes and Cholamandalam Investment and Finance Company as its top three weekly technical picks, citing strong chart patterns and bullish momentum across all three counters.

According to the brokerage's report, Hindalco has confirmed a rounded bottom breakout at Rs 790 and registered a new all-time high at Rs 843.70, signalling continuation of its medium-term uptrend.

The stock is trading above all key moving averages, reinforcing its bullish setup. Axis Direct recommends buying within the Rs 815–798 range, with a target of Rs 877–913 and a stop loss at Rs 771, implying an upside potential of 4–8 per cent over three to four weeks.

For Can Fin Homes, the report highlights a decisive breakout above an inverse Head and Shoulder pattern at Rs 818 on strong volumes, suggesting a shift in momentum.

The stock trades well above its 20-, 50-, 100-day and 200-day moving averages and has closed above its upper Bollinger Band, confirming strength. Axis pegs the buy range at Rs 835–818, with a target of Rs 910–935 and a stop loss at Rs 785, estimating an upside of 10–13 per cent.

Cholamandalam Investment and Finance continues to exhibit a robust uptrend across time frames, having hit an all-time high of Rs 1,780.90. The stock broke above a key resistance zone accompanied by a strong bullish candle, while momentum indicators confirm a positive crossover.

The brokerage suggests buying between Rs 1,730–1,695, with a target of Rs 1,885–1,935 and a stop loss at Rs 1,625, offering 6–9 per cent potential gains.