DLF, APL Apollo, NCC, SBI Cards & Page Ind: These five stocks can deliver up to 22% returns
Domestic brokerage firms including Axis Securities and ICICI Securities believe that select stocks including DLF, APL Apollo Tubes, NCC, SBI Cards and Payment Services and Page Industries can deliver up to 22 per cent return in the near term, if one trades them on either side. Here’s what analysts suggest about these stocks:
APL Apollo Tubes | Buy | Target Price: Rs 1,390-1,440 | Stop Loss: Rs 1,160 | Upside: 12-16%
APL Apollo Tubes on the weekly chart has decisively broken out above the ‘consolidation zone’ between Rs 1,200-1,000 levels in mid of February 2023. It retested the breakout area and is expected to continue an uptrend. The stock is holding above medium term upward sloping trendline which is in place from the start of August 2022. The stock is forming a higher high-low on the weekly chart. This formation indicates a positive uptrend. The weekly strength indicator RSI is in bullish mode and weekly RSI crossover above its reference line generated a buy signal. The above analysis indicates an upside of Rs 1,390-1,440 levels.Recommended by: Axis Securities
Page Industries | Buy | Target Price: Rs 40,000 | Stop Loss: Rs 35,950 | Upside: 6%
Page Industries had underperformed broader markets since October and corrected almost 35 per cent from its highs. Last week the stock rebounded sharply after testing its 2018 highs of Rs 36,000. On the F&O front, the stock had witnessed aggressive short build-up over the past few months. However, in the recent recovery the stock observed marginal closure in the open interest. We believe the recent leg short covering is likely to extend, going forward, The stock is likely to test Rs 40000 in the coming sessions.Recommended by: ICICIDirect Research
NCC | Buy | Target Price: Rs 115-120 | Stop Loss: Rs 90 | Upside: 17-22%
NCC on the weekly chart has decisively broken out above the ‘multiyear resistance’ placed at 100 level indicating a strong uptrend. The breakout is accompanied with an increase in volume confirming participation at breakout level. The stock is trading in a medium-term rising channel. Last week it took support at the lower band and it is heading towards the upper band of a channel. The weekly strength indicator RSI is holding above its reference line indicates positive momentum. The above analysis indicates an upside of Rs 115 -120 levels.Recommended by: Axis Securities
SBI Cards and Payment Services | Sell | Target Price: Rs 670 | Stop Loss: Rs 759 | Downside: 9%
SBI Cards had been consolidating in the broader range of Rs 735- 760 over the past month. However, despite a recovery in the broader markets, the stock has closed below its lower band of consolidation indicating inherent weakness. Furthermore, meaningful short addition was seen over the past few weeks and futures open interest has reached an all-time high. On the options front, noteworthy writing is seen in multiple OTM Call strikes indicating limited upside. As the stock has closed below its support levels along with substantial short additions, we believe it is likely to remain under pressure in the coming days.Recommended by: ICICIDirect Research
DLF | Buy | Target Price: Rs 400-413 | Stop Loss: Rs 350 | Upside: 9-13%
DLF on the weekly chart has decisively broken out above the ‘consolidation zone’ between Rs 370-342 levels with strong bullish candle indicating a positive bias. The breakout is accompanied with an increase in volume confirming participation at breakout level. The stock is holding above medium term upward sloping trendline which is in place from March 2022. The weekly strength indicator RSI is in bullish mode and weekly RSI crossover above its reference line generated a buy signal. The analysis indicates an upside of Rs 400-413 levels.Recommended by: Axis Securities
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today)
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