3 stocks picks by Ajit Mishra that can offer good returns in short-term

Axis Bank Limited

Recommendation: Buy

Last Close: Rs 786.50

Initiation range: Rs 775-780

Target: Rs 820

Stop loss: Rs 760

We’re seeing noticeable traction in the banking pack and Axis Bank is also trading in sync with the banking index. It has recently surpassed the upper band of the consolidation range around Rs 780 levels and is likely to inch gradually towards its record high. Traders shouldn’t miss this opportunity and initiate long trades in the given range.

Container Corporation of India Limited

Recommendation: Buy

Last Close: Rs 679.55

Initiation range: Rs 670-675

Target: Rs 715

Stop loss: Rs 650

Concor has been trading with a corrective bias for the last two months, after making a new record high at Rs 748 levels in June 2021. It has formed a base while holding strongly above the support zone of medium-term moving average (100 EMA) on the daily chart and looks set for a rebound now. We thus advise creating fresh longs in the mentioned zone.

Syngene International Limited

Recommendation: Buy

Last Close: Rs 641.35

Initiation range: Rs 636-642

Target: Rs 675

Stop loss: Rs 624

Syngene has formed a strong base around Rs 600 levels in the last four months while consolidating above the support zone of medium-term moving average(100 EMA) on the daily chart. The chart pattern combined with the recent surge in the volumes indicates a steady up move from hereon. We recommended accumulating in the given range. 

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Disclaimer: Ajit Mishra is VP-Research at Religare Broking; https://www.religareonline.com/disclaimer