Axis Securities in its fresh weekly technical note suggested three stocks, which have seen momentum of late, and could deliver up to 18 per cent returns over the next three-to-four weeks, based on technical strength on weekly charts. They included Welspun Living, which has delivered a decisive breakout above its medium-term downward sloping trendline at Rs 133 on the weekly chart in mid-November. Samvardhana Motherson International Ltd is trending within a rising channel, the brokerage said adding that Cummins India delivered a decisive breakout above the strong multi-resistance zone near Rs 4,160 at the end of October 2025.
Axis Securities said Welspun’s breakout was accompanied by a strong bullish candle— signalling the end of its corrective phase and the onset of a medium-term uptrend.
“The stock witnessed a brief throwback before rebounding sharply, successfully retesting the breakout zone and reaffirming the validity of the pattern. A Rising volumes at the breakout underscore robust market participation and strong conviction. Momentum indicators also align with this view, as the weekly RSI has broken out above its downward sloping trendline, validating the strength in price action,” it said.
The brokerage indicated an upside towards Rs 162-170 levels.
Cummins India’s breakout was accompanied by a bullish candle, signalling a positive bias and the continuation of the medium-term uptrend. “Following the breakout, the stock consolidated in a narrow Rs 4,470–4,160 range, taking a brief pause after a sharp rally. This week, it has broken above the range, reaffirming the continuation of the uptrend,” Axis Securities said.
This stock has been maintaining a higher high–low structure and is trading well above its rising trendline, highlighting a strong short-term bullish setup.
“The weekly RSI is trending higher and holding above its reference line, indicating a positive bias. The above analysis indicates an upside toward Rs 4,825-4,950 levels,” the domestic brokerage said.
Samvardhana Motherson, after taking support at the lower band, is now advancing towards the upper band, indicating sustained upward momentum. The stock has broken above a strong multi-resistance zone near 114 on the weekly chart, supported by a bullish candle and rising volumes—signalling a positive bias and continuation of the medium-term uptrend.
“Momentum indicators support this strength, with the weekly RSI rising and trending above its reference line, highlighting persistent momentum and a strengthening bullish outlook. RSI trending higher and holding above
its reference line and 50 mark, indicating a positive bias,” the brokerage said.
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