Money-making ideas: Urban Company, PB Fintech among top technical picks from Axis Securities. Check key levels

Axis Securities has listed three stocks as its top technical picks for the week beginning August 24. The brokerage expects 24,000 to act as a crucial support level for the Nifty; a sustained break below this level could trigger further weakness towards 23,800. On the upside, a decisive break above 24,370 could signal a potential reversal, opening the door for the index to move towards 24,500, followed by 24,800.

Axis Securities named Urban Company among its top technical picks, suggesting investors buy the stock in the range of Rs 151-155 per share, with a stop loss at Rs 145 for a potential upside of 10-16%. The brokerage noted that the stock delivered a decisive breakout from the ‘cup and handle’ pattern at Rs 154, backed by a strong bullish candle, signalling the onset of a medium-term uptrend. Its analysis suggests the stock could rise to Rs 169-177, with a holding period of three to four weeks.
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Kfin Tech shares delivered a decisive breakout from a ‘downward-sloping channel’ around the Rs 925 level, Axis Securities said. The breakout is supported by a strong bullish candle, signalling the continuation of a medium-term uptrend. The brokerage suggested investors buy the stock in the range of Rs 957-975 apiece, with a stop loss at Rs 911, for potential returns of 11-14%.

On the weekly chart, Policybazaar-parent PB Fintech shares delivered a decisive breakout above a “triangular pattern” that had formed over the past couple of years, supported by a strong bullish candle, signalling the onset of a medium-term uptrend, Axis Securities said. Further reinforcing the positive outlook, the stock closed above its weekly upper Bollinger Band, generating a fresh buy signal and indicating strengthening upside momentum, it added. The brokerage suggested a buy range of Rs 1,736-1,770 apiece, with a stop loss at Rs 1,675, for potential upside of 9-12%.
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(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)