Union Bank, Phoenix Mills & UPL: Axis Direct shares 3 weekly technical picks

Axis Direct, the retail broking arm of Axis Securities, has listed three stocks -- Union Bank of India, UPL Ltd and The Phoenix Mills Ltd -- as its top technical picks for the week, suggesting a holding period of three to four weeks.

Union Bank of India Ltd

CMP: Rs 153 | Buy Range: Rs 151–148 | Stop Loss: Rs 143 | Upside: 8%–13%

The stock has broken above its medium-term downward-sloping trendline at Rs 152 on weekly charts, accompanied by a strong bullish candle. It is trading above its 20-, 50-, 100- and 200-day simple moving averages (SMAs), indicating strong underlying momentum. The weekly RSI has also moved above its trendline and signal line, confirming renewed strength. Axis Direct expects the stock to move towards Rs 162–169 levels in the coming weeks.

UPL Ltd

CMP: Rs 748 | Buy Range: Rs 740–726 | Stop Loss: Rs 695 | Upside: 10%–13%

UPL is trending within a rising channel and has rebounded from its lower band, suggesting strong buying interest at support levels. The stock has also broken above a medium-term trendline in place since June 2021 around the Rs 740 mark. It closed above the upper Bollinger band, generating a buy signal. The weekly RSI is positioned above 50 and remains above its reference line, indicating sustained momentum. Axis Direct expects the stock to move towards Rs 809–826 levels.

The Phoenix Mills Ltd

CMP: Rs 1,761 | Buy Range: Rs 1,740–1,701 | Stop Loss: Rs 1,655 | Upside: 8%–12%

Phoenix Mills has broken out above its symmetrical triangle pattern at Rs 1,680 on weekly charts, marking the end of consolidation. The breakout was accompanied by higher trading volumes, validating the move. The stock is forming a higher high–low structure on the daily chart and remains above its upward-sloping trendline. The weekly RSI has crossed above 55, reinforcing the positive setup. Axis Direct projects an upside towards Rs 1,855–1,935.

Further, Axis expects benchmark Nifty50 to trade in a range of 25,000–26,000 with a negative bias in the near term.