The market has experienced a strong rally in the first trading session of the week. Initially, it started slowly, but Nifty is now trading above 23,350, with a gain of 150 points.
According to Axis Securities, the 23,000 level is key for the market. If it holds, a trend reversal is likely.
If Nifty rises above 23,400, fresh buying will begin, though there is resistance around the 23,500 mark.
In this market, investors should focus on stock-specific action. Axis Securities has recommended three stocks for the next 3-4 weeks, which have the potential to offer returns of up to 22%.
Stock Picks for the Next 3-4 Weeks
Minda Corporation (Auto Component Stock)
Minda Corporation is currently priced around Rs 590. It is recommended to buy the stock within the range of Rs 570-560, with a stop loss at Rs 535 if the price falls below this range.
The first target is Rs 625, and the second target is Rs 645, which could offer returns of 11-14%.
Over the last week, the stock has gained 15%, 16% in the last two weeks, and 14% this year. The 52-week high is Rs 653, and the low is Rs 367.
Biocon (Pharma Stock)
Biocon’s stock is currently trading at Rs 395. It is advised to buy between Rs 385-378, with a stop loss at Rs 360.
The first target is Rs 425, and the second target is Rs 440, providing potential returns of 11-15%.
In the last week, Biocon has gained 9%, 10% in two weeks, and 7% this year. The 52-week high is Rs 400, and the low is Rs 244.
Apollo Micro Systems (Aerospace Stock)
Apollo Micro Systems is trading at Rs 147, with a 12% gain. The stock reached a new high of Rs 150 during the session.
It is recommended to buy in the range of Rs 129-126, with a stop loss at Rs 116.
The first target is Rs 150, and the second target is Rs 156, offering returns of 18-22%.
Over the past week, the stock has gained 20%, 14% in two weeks, and 22% this year. The 52-week high is Rs 150, and the low is Rs 88.
