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Stock Ideas: These 8 stocks can give 30% return till next Diwali

The stock market has also shown a slight correction after hitting a lifetime high recently. Eight names have been suggested by Prabhudas Lilladher’s technical research desk on which stocks to buy during Diwali celebrations in Teva. By Diwali, these stocks can rise up to 20-30 per cent. According to the brokerage firm, all these stocks have been selected on the basis of technical parameters and the investment period has been given as 1 year.

Apollo Hospital. Purchase. Target – Rs. 5200-5400. Stop Loss- 3850

The stock has seen good correction recently. After a long rally, it has lost 25 per cent. Looking at the weekly chart, this bottom is out and now this stock can go up. According to the pattern seen in this, this stock can be bought with a target of Rs 5200-5400, keep a stop loss of Rs 3850.

Cummins India. Purchase. Target Rs. 1150-1240. Stoploss- 800

The stock is showing an upward trend in the weekly chart. Recently it was seen taking support at Rs 850 level and from there it is showing signs of reversal. The RSI indicator is also indicating a correction. Looking at the chart, the stock can be bought with a target price of Rs 1150-1240 and a stop loss of Rs 800.

Federal Bank. Purchase. Target Rs. 130-140. Stop Loss – Rs.

The stock has seen a rally above the level of Rs 90. Indicators on the technical chart are also showing signs of recovery. If we talk about the period of one year, then in the coming days, the stock can see a rise. Keeping all this in mind, one can buy the stock with a target price of Rs 130-140 and a stop loss of Rs 90.

Buying Hindustan Oil Exploration. Target Rs. 230-245. Stoploss Rs. 160

The stock fell after touching a high of Rs 222. On the technical chart, it remains below the Rs 170 level, and it does not seem to be going down. Its RSI indicator is giving additional signals after this fall. Keeping in view the possibility of a strong rally, based on the technical chart, the stock can be bought at Rs 1150-1240 with a stop loss of Rs 800.

Voltas. Purchase. Target Rs. 1480-1490. Stop Loss – 1060

The stock, which touched Rs 1,356, has seen a good correction since then. However, it remains below the level of Rs 1145, from where there are signs of an upward move. Looking at the technical chart, the stock can be bought with a target price of Rs 1480-1550 and a stop loss of Rs 1060.

Mahindra & Mahindra. Purchase. Target Rs. 1100-1180. Stoploss- 820

The stock has seen a strong move from the level of Rs 730, and is reaching the level of Rs 970. Technical charts suggest that it is likely to move higher after reaching lower levels near Rs.880. The share can be bought for a period of one year with a target price of Rs 1100-1180 and a stop loss of Rs 820.

Buying Rural Electrification Corporation. Target Rs. 190-200. Stop Loss- 138

The stock is showing an upward move in a channel pattern on the Daily chart. After the recent correction, it found strong support at 145. The positive candlestick pattern seen here indicates that a trend reversal is on hold in this stock. Besides that, there is still ample scope for addition. In such a situation, the stock can be bought with a target price of Rs 190-200 and a stop loss of Rs 138.

UltraTech Cement. Purchase. Target 8800-9000. Stop Loss Rs. 6800

The stock sharply touched the level of Rs 8070, then saw a small correction. However, the current technical indicators are showing clear signs of further upside. The stock can be bought fresh with a target price of Rs 8800-9000 though with a stop loss of Rs 6800.

Disclaimer: The above information is for information only. Possible rise in shares is indicated by the brokerage firm, which has nothing to do with IamGujarat.com. Be sure to consult your financial advisor before making any investment.

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