Axis Securities has come out with a list of three stocks that it believes can deliver 12-16 per cent returns in the next 3-4 weeks. The domestic brokerage said these three stocks namely NLC India Ltd, Hindustan Copper and Usha Martin Ltd have seen decisive breakouts on technical charts, along with other bullish signals, and could deliver strong short term returns ahead. Advertisement

On NLC India, Axis Securities said the stock has registered a decisive breakout above the down-sloping trendline resistance at Rs 249 on the weekly chart, signalling the onset of a medium-term uptrend. A close above the weekly upper Bollinger Band has further generated a fresh buy signal, it said adding that the stock is holding firm above the 61.8 per cent Fibonacci retracement of the Rs 186-269 rally at Rs

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