GSFC broke above the cup and handle pattern at Rs 216 with a robust bullish candle, signaling the initiation of an uptrend subsequent to a consolidation breakout. 
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GSFC broke above the cup and handle pattern at Rs 216 with a robust bullish candle, signaling the initiation of an uptrend subsequent to a consolidation breakout. Domestic brokerage firm Axis Securities has picked up four stocks, namely- Gujarat State Fertilizers & Chemical Ltd, ABB India Ltd, RBL Bank Ltd and InterGlobe Aviation Ltd (IndiGo) - 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 in the next 3-4 weeks. Here's what Axis Securities said about these stocks:RBL Bank | Buy | Target Price: Rs 286-300 | Stop Loss: Rs 240 RBL Bank has recently experienced a robust breakout from the consolidation zone between Rs 258-210, accompanied by a strong bullish candle, indicating a continuation of medium term uptrend. Volume activity waned during the pattern formation, but experienced a surge at the breakout, signaling increased market participation. The stock holding above the 38 per cent Fibonacci retracement level of the rally from 141-256, placed at Rs 210, indicates the formation of a medium-term support base. The weekly strength indicator RSI given a crossover above its reference line generated a buy signal. The above analysis indicates an upside of Rs 286-300 levels.ABB India | Buy | Target Price: Rs 5,010-5,200 | Stop Loss: Rs 4,400 ABB India has recently exhibited a strong breakout from the consolidation zone in the range of Rs 4,600-3,900, marked by a strong bullish candle, suggesting a continuation of the medium-term uptrend. The stock has experienced heightened volume activity during the breakout, signifying a notable surge in market signifying a notable surge in market participation. The stock is forming a higher high-low formation on the weekly chart indicating positive momentum. The weekly strength indicator RSI is in a bullish mode and holding above its reference line indicating positive bias. The above analysis indicates an upside of Rs 5,010-5,200 levels.Gujarat State Fertilizers & Chemical | Buy | Target Price: Rs 241-245 | Stop Loss: Rs 200 On the weekly chart, GSFC broke above the cup and handle pattern at Rs 216 with a robust bullish candle, signaling the initiation of an uptrend subsequent to a consolidation breakout. Volume activity increased during the breakout, indicating an influx of market participation. The stock is holding above key averages of 20, 50, 100, and 200 days Simple Moving Average (SMA), signaling a strong uptrend in the stock. The weekly strength indicator RSI is in a bullish mode and holding above its reference line indicating positive bias. The above analysis indicates an upside of Rs 241-245 levels.InterGlobe Aviations | Buy | Target Price: Rs 3,034-3,150 | Stop Loss: Rs 2,700 IndiGo has broken out above the rounded bottom pattern at the Rs 2,745 level, signifying the continuation of a medium-term uptrend. The stock has broken out with a breakout gap, indicating positive momentum. The stock has successfully closed above the upper weekly Bollinger band, generating a buy signal. The stock is forming a higher high-low formation on the weekly chart and holding above an upward sloping trendline, indicating positive momentum. The weekly strength indicator RSI is in a bullish mode and holding above its reference line indicating positive bias. The above analysis indicates an upside of Rs 3,034-3,150 levels.
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