Three Indian stocks may rise up to 16%

Brokerage firm Axis Securities has picked three stocks that could increase by up to 16% in the next month. These stocks are Coal India, LIC Housing Finance, and Mazagon Dock Shipbuilders. The recommendations come as markets have recently rebounded strongly. Coal India has shown a strong base around Rs 337. This aligns with a key technical indicator known as the Fibonacci retracement. The stock has been gathering strength since December 2024 and recently broke out from a range between Rs 350 and Rs 400. If it maintains above Rs 400, it may continue to rise, potentially reaching levels of Rs 429-449. Mazagon Dock has also broken a critical resistance point at Rs 2,500. This breakout suggests a continuation of its upward trend. Strong trading volume during this breakout indicates high interest from investors. The analysis predicts that it could reach levels between Rs 2,790-2,885. LIC Housing has recently broken free from a declining trend. This was confirmed by a strong upward candlestick pattern at Rs 557. The stock has found solid support above Rs 514. Indicators suggest it could rise to levels of Rs 621-645, supported by positive movements in the market.