New Delhi, Nov. 4 -- Nuvama Wealth Management, BEML and Petronet LNG are the three stocks recommended by Axis Direct in its latest report for November, with upside potential of up to 27%.

Axis Direct said Nuvama has staged a sharp rally from its low of Rs.1,097 to Rs.2,066, while the subsequent correction found firm support around the 50% Fibonacci retracement level of Rs.1,581.

The stock has also reclaimed its weekly 20-day simple moving average (20-SMA), while the relative strength index (RSI) has turned upwards above its signal line, indicating strengthening upside momentum.

The brokerage has advised investors to buy Nuvama in the range of Rs.1,764- Rs.1,800, with a target price range of Rs.2,166- Rs.2,349 and a stop-loss of Rs.1,59...