Diwali Stock Picks 2024: Emami To HCLTech — Axis Securities' 12 Technical Bets With Upto 64% Upside Potential

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..As we transition into Samvat 2081, we recommend adopting a bottom-up approach to stock selection. With the U.S. election on the horizon, persistent geopolitical tensions, and elevated valuations in Indian equities, a stock-specific strategy is advisable. Below are some of our top picks, which we believe are well-positioned to deliver strong performance in Samvat 2081..Emami - (potential upside- 39-52%)Emami Ltd. has registered an all-time high at 860 levels, indicating bullish sentiments. Emami has broken above an "Inverse Head & Shoulders" pattern at 600, signalling bullish sentiment. The consistent increase in volume at the breakout indicates a significant influx of market participation near the all-time high. The quarterly and yearly strength indicator RSI is in positive territory, which signifies sustained strength on the long-term charts. The above analysis indicates an upside of 845-930 levels..HCLTech (potential upside- 25-37%)HCLTech Ltd. has decisively broken out above three years of consolidation in the 1,000-1,400 zone on the yearly chart, indicating the continuation of a medium-term uptrend. It is forming a higher high and low formation while holding above a medium-term upward-sloping trendline, indicating a positive bias. The quarterly and yearly strength indicator RSI is in positive territory, which signifies sustained strength on the long-term charts. The above analysis indicates an upside of 2085-2285 levels..Shipping Corporation Of India (potential upside- 39-53%)Shipping Corporation Of India Ltd. broke above the "Rounding Bottom" pattern at the 175 levels, indicating the onset of a medium-term uptrend. Currently, the stock is well placed above its sixteen-year breakout of 175 levels. The significant rising volumes over the past 5-6 years indicate increasing investor participation. The yearly strength indicator RSI is in positive territory, signifying sustained strength on the long-term charts.The above analysis indicate an upside of 265-290 levels..Click on the attachment to read the full list of Diwali technical picks recommended by Axis Securities:.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Diwali Stock Picks 2024: Emami To HCLTech — Axis Securities' 12 Technical Bets With Upto 64% Upside Potential

The brokerage recommends adopting a bottom-up approach to stock selection for this Samvat 2081.

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Diwali Stock Picks 2024: Emami To HCLTech — Axis Securities' 12 Technical Bets With Upto 64% Upside Potential

The brokerage recommends adopting a bottom-up approach to stock selection for this Samvat 2081.

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