Technical picks: Adani Ports, PB Fintech among 5 stocks that can rally up to 12% in short term

India's blue-chip indices Nifty and Sensex were muted on Friday and logged weekly losses, weighed down by financials and consumer stocks, as investors digested the fading likelihood of early rate cuts in India and the United States. Meanwhile, a host of analysts shared their tech views on several stocks, which may gain up to 12% in the near term. Here is a list of 5 tech picks from various analysts:

KIMS has been in an uptrend, hovering well above all its major EMAs on the daily time frame. In the meantime, the counter has formed a ‘saucer’ pattern in the last five months and is on the verge of a breakout. Also, it has witnessed the highest-ever weekly closure, adding to a bullish quotient. The technical parameters are very much inline with the bullish undertones and the stock seems ready to propel into uncharted territory in the near period.

(Osho Krishan, Sr. Analyst - Technical & Derivative Research, Angel One)

POLICYBAZAAR has seen a stellar run from 725 to 1048, post which it underwent some profit booking, dragging it to the 20 DEMA on the daily chart. However, the stock recently has gained from the 50% Fibonacci retracement of the mentioned rally, coinciding with the previous swing high and the mentioned EMA, attributing to a bullish undertone for the counter. Additionally, the earlier resistance zone is now likely to provide strong support to the counter. And hence, it is likely to continue its northward march in the comparable period.


(Osho Krishan, Sr. Analyst - Technical & Derivative Research, Angel One)

ACC has been exhibiting a robust uptrend, characterized by consistent higher highs and higher lows on the daily chart. The stock recently signaled a breakout from a bullish pennant formation, accompanied by notable volumes, indicating a strong bullish sentiment. The lower end support for ACC is positioned at 2500, offering a crucial level for bulls. The potential upside targets for the stock are projected at 2720/2780.(Kunal Shah, Senior Technical & Derivative Analyst, LKP Securities)

Dr Reddy's Laboratories has exhibited a robust breakout from a cup and handle formation on the daily chart, supported by significant trading volumes. The momentum indicator, RSI, has provided a positive crossover and is currently trading above 60, confirming the bullish momentum.


(Kunal Shah, Senior Technical & Derivative Analyst, LKP Securities)

Adani Ports has demonstrated a strong and consistent uptrend, marked by higher highs and higher lows on the daily chart. The stock is currently trading above critical short-term moving averages, reinforcing the bullish sentiment. The support level is identified at 1230, serving as a key level for potential bullish movements. With the current technical setup, the stock presents potential upside targets at 1370/1420.(Kunal Shah, Senior Technical & Derivative Analyst, LKP Securities)(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)