Here is the list of three stocks that can give up to 14 percent return in a month.
The Nifty started the week on a cautious note ahead of the much eyed and awaited Karnataka election result.
It is currently facing resistance at the midpoint of the rising channel placed at 10,835 level, a sustained trade above this resistance can take it higher to levels of 10,900, with 11000 being the upper end of the channel.
On the downside, 10,700 is a crucial support zone, which happens to be the lower end of the channel. A trade below 10,700 can halt the bullish trend, dragging it lower to 10,600-10,530 levels.
Here is the list of three stocks that can give up to 14 percent return in a month:
Dixon Technologies (India) Ltd: Buy | Target - Rs 3,880 | Stoploss - Rs 3,500 | Return - 9%
On the daily chart, Dixon Technologies (India) is on the verge of a breakout from an Ascending Triangle pattern neckline placed at Rs 3750 (as indicated on chart) indicating bullishness building up in the stock. A trade above Rs 3,750 with healthy volumes can take the stock to the upper end of the pattern placed at Rs 3,880.
Further, it has taken support at the 50 percent Fibonacci retracement level and turned upwards affirming bullishness.
Moreover, RSI has witnessed a range shift after taking support at the 50-level entering the bull zone affirming bullishness.
Stock may be bought in the range of Rs 3,665-3675 for targets of Rs 3,880-4000, keeping a stop loss below Rs 3,500.
Infosys Ltd: Buy | Target - Rs 1,260 | Stoploss - Rs 1,130 | Return - 14%
On the daily chart, Infosys has turned upwards after taking support at the 61.8 percent Fibonacci retracement level suggesting bullishness dominant in the stock.
Further, it is on the verge of a breakout from an Ascending Triangle pattern neckline placed at 1215, a successful breakout from the pattern with healthy volumes can resume the uptrend.
RSI has turned upwards breaking out of the upper Bollinger Bands suggesting extended bullishness in the coming trading sessions.
Stock may be bought in the range of Rs 1,185-1,195 for targets of Rs 1,260-1,350, keeping a stop loss below Rs 1,130.
Akzo Nobel India Ltd: Buy | Target - Rs 2,150 | Stoploss - Rs 1,880 | Return - 12%
On the Weekly chart, Akzo Nobel India has broken out from a channel pattern resuming uptrend. Further, on the daily chart, it has broken out from a consolidation phase with healthy volumes affirming bullishness.
RSI has entered in the bull zone after bearing out of broken out from upper Bollinger Band.
Stock may be bought in the range of Rs 1,980-1,990 for targets of Rs 2,150-2,220, keeping a stop loss below Rs 1,880.Disclaimer: The author is Technical Analyst at YES Securities (I) Ltd. The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.