Domestic brokerage firm Anand Rathi Shares and Stock Brokers has suggested seven such stocks on the basis of technical analysis which can give good returns of up to 52 percent to investors in the next one year. The brokerage firm recommends bets on BEML, Tata Technologies, IFCI, Jupiter Wagons, Hindustan Zinc, IRB Infrastructure Developers (IRB Infra) and Garden Reach Shipbuilders & Engineers (GRSE) this Diwali. Here’s what the brokerage firm said about these stocks:
IFCI | Buy level: ₹61-56 | Target price: ₹80-88 | Stop Loss: ₹44
IFCI has regained stability after a big fall of 36 percent and is coinciding with the 200-day EMA. It looks attractive due to bullish divergence on the daily chart, so investors can buy it in one year time frame.
IRB Infrastructure Developers | Buy level: ₹60-55 | Target price: ₹79-86 | Stop Loss: ₹43
IRB Infra has been running a base above the Ichimoku cloud weekly for several months. The stock is showing signs of a rebound from its 200-day EMA after falling nearly 30 percent from its peak at ₹78. Investors can buy it in a time frame of one year.
Jupiter Wagons | Buy Level: ₹525-495 | Target price: ₹700-760 | Stop Loss: ₹390
Most of the railway related stocks continue to fall. Jupiter Wagons has lost 40 per cent value from its high of ₹746. The stock is now showing turning from 200 DEMA. Investors can buy it in a time frame of one year.
Hindustan Zinc | Buy level: ₹520-480 | Target price: ₹680-750 | Stop Loss: ₹380
Hindustan Zinc has been in a downtrend for several months, but now it is finding support near 200 DEMA at ₹470. The stock is now on the verge of a new breakout, which could resume its uptrend. It is recommended to purchase it within a one year time frame.
Tata Tech | Buying level: ₹1,080-1,040 | Target price: ₹1,360-1,450 | Stop Loss: ₹865
Tata Tech stock peaks near ₹1,400 after biggest IPO and listing gains in 2023. Now it is again showing signs of trend reversal and investors can buy it in one year time frame.
Garden Reach Shipbuilders & Engineers | Buying level: ₹1,780-1,700 | Target price: ₹2,425-2,650 | Stop Loss: ₹1,300
GRSE has registered a decline of 45 percent after a rise of 300 points from March 2024 to July 2024. The stock is now showing turning from 200 DEMA and 61.8 percent retracement level. Investors can buy it in a time frame of one year.
BEML | Buying level: ₹3,900-3,700 | Target price: ₹4,800-5,400 | Stop Loss: ₹2,975
Most of the stocks related to defense sector continue to fall. BEML has lost 35 per cent of its value from its high of ₹5,466. Now it is showing breakout from 50 Weekly EMA and 200 DEMA. Investors can buy it in a time frame of one year.