Varun Beverages, Manappuram, Endurance Tech: Check fresh target prices for these stocks

As the Indian stock markets kicked off last week of May on a strong note and domestic brokerage firm Axis Direct has suggested select stocks to make double digit gains in the short-term. It has picked the names like Endurance Technologies, Varun Beverages Ltd and Manappuram Finance Ltd based on strong technical charts. It has suggested these stocks for next 3-4 weeks. Here's what Axis said on these counters:
 

Varun Beverages | Buy | Target Price: Rs 599-615 | Stop Loss: Rs 494
Varun Beverages has delivered a decisive breakout from a one-year downward-sloping channel on the weekly charts, backed by a strong bullish candle, signalling the trend reversal on the medium-term time frame. The breakout is supported by a sharp surge in volumes, underscoring strong market participation and conviction behind the move. The stock is firmly positioned above its 20-, 50-, 100-, and 200-day SMAs, with all key averages trending higher in alignment with price action, confirming a robust bullish structure. Momentum indicators remain firmly supportive, with the weekly RSI holding above its reference line, reflecting strengthening bullish momentum and reinforcing the positive outlook. The above analysis indicates an upside toward Rs 599-615 levels.
 

Endurance Technologies | Buy | Target Price: Rs 2,969-3,010 | Stop Loss: Rs 2,525
Endurance Technologies Ltd has delivered a decisive breakout from 'Cup & Handle' formation around the Rs 2,685 level on the daily charts, supported by rising volumes, signalling the resumption of the medium-term uptrend. The stock continues to form a higher tops and bottom formation and is holding firmly above its 20-, 50-, 100-, and 200-day SMA’s, reconfirming a sustained positive bias. Momentum indicators remain firmly supportive, with the weekly RSI holding above its reference line, indicating strengthening bullish momentum. Additionally, the daily and weekly 'Bollinger Band' buy signal further validates the increased momentum and reinforces the positive outlook. The above analysis indicates an upside toward Rs 2,969-3,010 levels.
 

Manappuram Finance | Buy | Target Price: Rs 361-372 | Stop Loss: Rs 295
Manappuram has delivered a decisive breakout above the 'multiple resistance zone' at Rs 318 on the weekly charts, supported by a strong bullish candle, signalling resumption of the prior uptrend. The breakout is accompanied by a notable surge in volumes, indicating strong market participation and validating the strength of the move. The daily price action remains well positioned above the 20-, 50-, 100-, and 200-day SMAs, with all key moving averages trending higher alongside prices, indicating a strong and sustained bullish trend. Additionally, the weekly and monthly RSI breakout above its reference line further reinforces positive sentiment and confirms the robustness of the price action. The above analysis indicates an upside toward Rs 361-372 levels.