Axis Securities Picks: Urban Company, Kfin Tech, PB Fintech For Gains

Axis Securities has highlighted three stocks as its premier technical selections for the week commencing August 24. The brokerage firm anticipates Nifty finding crucial support around the 24,000 mark, with a potential dip to 23,800 if this level is breached. Conversely, a strong move above 24,370 could signal a trend reversal, pushing the index towards 24,500 and then 24,800.

Urban Company has been identified as a top pick, with a recommended buy range of Rs 151-155. The stock's decisive breakout from a 'cup and handle' pattern at Rs 154, supported by bullish candle formations, suggests the start of a medium-term upward trend. Axis Securities projects a potential upside of 10-16%, with target prices between Rs 169-177 over three to four weeks.

Kfin Tech shares are also recommended for purchase in the Rs 957-975 range. The stock has achieved a significant breakout from a downward-sloping channel near Rs 925. This breakout, accompanied by strong bullish candle signals, points to a continuation of its medium-term uptrend, with potential returns estimated at 11-14%.

PB Fintech, the parent company of Policybazaar, rounds out the list. Its shares have decisively broken above a two-year triangular pattern on the weekly chart, signaling a new medium-term uptrend. The stock's closure above its weekly upper Bollinger Band further strengthens the positive outlook, indicating increasing momentum. Axis Securities suggests buying within the Rs 1,736-1,770 range for a potential 9-12% upside.