Nifty on Monday (August 21) ended higher aided by buying across Metals, Power and IT stocks. At close, the index was up 0.43 percent or 83.5 points at 19393.60. On the weekly chart, the Nifty index displays a bearish candle characterized by extended shadows on both sides, indicating significant volatility in either direction.

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The chart pattern suggests that if Nifty crosses and sustains above 19400 level it would witness buying, which would lead the index towards 19500-19600 levels. However if the index breaks below 19200 level, it would witness selling, which would take the index towards 19000-18900.

For the week, analysts at Axis Securities expects Nifty to trade in the range of 19600-18900 with a mixed bias.

Here are Axis Securities' weekly top 4 tech picks—

Based on the technical factors, the brokerage has suggested four stocks — Adani Power Ltd, JK Paper Ltd, Computer Age Management Services Ltd, and Khadim India Ltd — that investors can look to buy and hold for the next three to four weeks.

Adani Power: On the weekly chart, Adani Power has notably breached the significant 'Multiple Resistance' zone, surging beyond the 288 level. A substantial increase in trading volume has been observed, suggesting active participation during the breakout phase.

The stock is currently trading within a rising channel, having recently found support at the lower band of the channel and is now progressing towards the upper band. It has exceeded the critical levels of 20, 50, 100, and 200 daily simple moving averages, underlining its strong bullish momentum.

The weekly strength indicator relative strength index (RSI) is in given a crossover above its reference line generated a buy signal.

The brokerage has given a buying range between Rs 300-294. The above analysis indicates an upside of 331-340 levels (11–14 percent) with a stop loss at Rs 280. Holding period is 3 to 4 weeks.

JK Paper: The stock, on the weekly chart, has exhibited a compelling breakout above the notable 'Falling Channel' pattern at the 358 levels, confirming a positive bias. The counter has witness a surge in volume at the break out indicating participation at breakout.

It has formed a medium-term support and rebounded from the 321 mark, representing a 50 persent Fibonacci retracement of the rally from 192-450, Axis Securities said.

The weekly strength indicator RSI is in given a crossover above its reference line generated a buy signal.

The brokerage has given a buying range between Rs 362-354. The above analysis indicates an upside of 396-415 levels (10–16 percent) with a stop loss at Rs 340. Holding period is 3 to 4 weeks.

Computer Age Management Services: On the weekly chart, CAMS has successfully broken above a medium-term 'Descending Triangular' pattern at

the 2430 level, indicating a transition towards a positive bias.

The weekly 'Bollinger band' generated buy signal as stock closed above the upper Bollinger Band. The stock is establishing a pattern of higher high-low on the daily chart, implying a favorable trend in the short term as well.

The weekly strength indicator RSI is holding above its reference line, indicating a positive momentum.

The brokerage has given a buying range between Rs 2500-2450. The above analysis indicates an upside of 2755-2850 levels (11–15 percent) with a stop loss at Rs 2335. Holding period is 3 to 4 weeks.

Khadim India: On the weekly chart, the stock of Khadim India has successfully broken through the significant 'Cup and Handle' pattern, surpassing the breakout level of 250. This indicates a positive bias going forward.

During the pattern formation, the volume dried up, but at the breakout, there was a noticeable influx of participation.

The stock has solidified a medium-term support at the 215 level, experiencing a rebound that coincides with a 50 percent Fibonacci retracement of the rally spanning from 177 to 252.

The weekly strength indicator RSI is holding above its reference line, indicating a positive momentum.

The brokerage has given a buying range between Rs 265-259. The above analysis indicates an upside of 291-310 levels (11–18 percent) with a stop loss at Rs 248. Holding period is 3 to 4 weeks.