Diwali Stock Picks 2025: Axis Direct picks 12 technical charts for up to 56% upside

BSE | The stock, on the charts, is consistently trading higher within a well-defined rising parallel channel. The recent pullback from the channel’s upper end has brought the stock back to its crucial support levels, Axis Direct said, adding that this presents a potentially favourable entry point. The stock has formed a strong, bullish candlestick on the monthly chart. Axis Direct expects the stock to test levels between ₹2,650 – ₹2,885, which is a potential upside of up to 31%. Buy range is ₹2,280 – ₹2,170 and support zone is between ₹2,000 – ₹1,900.

Hero MotoCorp | The two-wheeler manufacturer can see upside of up to 43%, according to Axis Direct, who recommends buying the stock between ₹5,180 – ₹4,970. Support for the stock is seen between ₹4,690 – ₹4,480 levels on the downside. The sharp rebound from the trendline confirms the validity of the breakout seen earlier and indicates continuation of the post-breakout uptrend. The monthly MACD’s crossover above zero line also reinforces the bullish momentum. As a result, Axis Direct expects the stock to rise towards ₹6,300 – ₹7,265 levels.

India Nippon Electricals | The stock has traded in a medium-term rising channel since 2008, indicating a sustained structural uptrend, as per Axis Direct. The brokerage expects the stock to rise to ₹1,255 – ₹1,455 levels, which indicates an upside potential of up to 56% from current levels. The recent uptick in volume activity highlights renewed market participation and adds conviction to the breakout move, as per Axis Direct. The buy zone is between ₹970 – ₹890 and support zone is between ₹840 – ₹750.

Inox Green Energy | Axis Direct expects the stock to rise to ₹260 – ₹265 levels, and recommends buying it between ₹210 – ₹195 zone. Support is seen between ₹183 to ₹173 levels. The price target indicates an upside potential of up to 41%. Axis Direct said that the medium-term uptrend in the stock has resumed as it found support near the 61.8% Fibonacci retracement of the rally seen from levels of ₹38 to ₹225. That support of ₹110 is now a strong medium-term base, as per Axis Direct.

Laurus Labs | The stock has been consolidating in a rounded bottom pattern on the quarterly chart and broke out from this formation in September, signaling a continuation of the uptrend. Axis Direct wrote that the stock is well positioned to sustain its long-term uptrend following a decisive breakout from four years of consolidation. It is also adding a higher high and higher low on the monthly chart. The brokerage expects the stock to rise to ₹1,030 – ₹1,115 levels, indicating an upside potential of 47%. Buy zone is ₹785 – ₹735, while support zone is seen between ₹690 – ₹640.

MTAR Technologies | Axis Direct has a price target of ₹2,155 to ₹2,380 on the stock, implying a potential upside of up to 36%. The stock has broken out above a falling channel that was in place since the stock since it hit an all-time high. The breakout is also led by a strong formation of a support base between ₹1,200 – ₹1,250 levels, which was defended multiple times. The monthly RSI is also showing a bullish formation. Buy range is seen between ₹1,815 – ₹1,695 and support zone is between ₹1,610 – ₹1,400.

NBCC | NBCC has had a decisive breakout from a classic “rounding bottom” formation and pushed above the neckline resistance with a bullish candle, Axis Direct said. It expects the PSU stock to test ₹130 – ₹145 levels, which implies a potential upside of up to 45%. The buy range is between ₹105 – ₹95 and support zone is between ₹90 – ₹75.

NMDC | Another PSU on the list, NMDC is trading with a series of higher tops and bottoms, indicating a strong uptrend. It broke above a significant resistance zone around ₹55 levels backed by strong volumes. Axis Direct expects the stock to test levels between ₹90 to ₹105, with a buy zone placed between ₹75 – ₹70. Support is seen between the ₹67 to ₹60 zone.

Paytm | The stock is up over 4x from its February 2024 lows and has decisively surpassed multiple resistance zones above ₹1,030 on a closing basis. Price action suggests the completion of a long-term base formation and the previous ₹1,030 resistance will now act as a key support, Axis Direct wrote. The stock could test levels from ₹1,310 to as high as ₹1,505, which implies an upside potential of up to 37% from current levels. Buy range is seen between ₹1,150 – ₹1,050, while support is seen between ₹940 – ₹860 levels.

State Bank of India | Shares of India’s largest lender could test levels between ₹940 to ₹1,035, according to Axis Direct, where the buying range is placed between ₹840 – ₹815 and support zone between ₹790 – ₹775. SBI broke out above its downward sloping trendline at ₹833 on a closing basis backed by strong volumes. Monthly RSI is showing a clear shift towards a bullish trend.

Syrma SGS | The stock has broken about a horizontal consolidation zone which persisted for the last eight quarters with a strong bullish candle in September. The prior resistance between ₹670 – ₹700 levels will now turn into a key support on any corrective dip. Axis Direct expects the stock to rise to ₹985 to ₹1,080 levels, which implies a potential upside of 48% from current levels. Buy range is between ₹760 – ₹700 and support zone is between ₹645 – ₹585.