After reaching new heights, the stock market appears to be high now. As NIFTY continues to maintain a large pace and maintain a large profit, experienced investors recommended going for an approach that provides more profits at the current level than chasing the rally as long as the index is below the 12,960 to 13000 zone.
Here, we have picked some of the greatest collection of stocks that can generate solid returns in a long run.
- SBI Cards
The stock made a double bottom formation in the daily chart by taking the support of ₹770. Many investors might experience fresh upward moves in the upcoming days. Also, an RSI indicator shows great strength. As the whole chart seems to be good, the analyst suggested investors and traders buy and accumulate this stock for a target of ₹900 while they also advised maintaining a stop loss at ₹740.
- Bata India
Bata experienced a large breaking out of the range ₹1465, on the back of the above volumes. Also, the technical indicators are showing positive signals as the trade above the 20-day and 50-day SMA. Analysts also said that the RSI indicator of Bata India is in rising mode and cannot be overbought. As the technical indicator seems to be looking positive on the monthly, weekly chart, experts said that the stocks of Bata India move higher in the upcoming weeks.
- Bharti Airtel
Bharti Airtel found the support of nearly ₹394 level in Oct 2020. Such types of levels were previously seen in March 2020 and needless to say, traders say it is a strong support point. The stock then reached a new height and made a new higher top. A 14 days RSI indicator also gives positive signals as they are in rising mode and cannot be overbought. Also, the technical setup of the stocks looks good which makes experts give a positive recommendation about Bharti Airtel.
Trade analyst suggests purchasing a stock between ₹478-485 for a target price of ₹515. However, they also advised planning a stop loss at ₹470.
- Endurance Technologies
The stock experienced a strong upward trend after testing 100-day simple moving average (SMA). As the stocks are able to manage its sustainability above ₹1021 level, the trajectory shall remain in an upward direction. Therefore the experts suggest to buy stocks now and book a target price of ₹1,170. Stop loss is suggested at ₹1,020.
- HDFC Life
HDFC has marked a great uptrend in The November month as the stock has raised from the levels of ₹585 to ₹676. It has also been noticed that the stock has been sustained above the key levels which were under the stiff resistance for the last two years. Therefore, HDFC has experienced a classic bullish pattern breakout. Also, the counter fits into all the technical parameters and hence the analyst marks a strong outperformance in this counter.
Needless to say, experts recommend buying this stock for a target of ₹750 over the next 14 sessions. However, the stop loss is recommended by them at ₹635.
- Dixon Technologies Ltd
Dixon technologies shares experience a remarkable growth as the shares of the company hit a fresh week high of Rs 12,538.7 on the BSE against a point of 275 in the rally of S&P BSE Sensex. Atul Lall, MD and vice-chairman of Dixon technologies have a strong expectation from the new year 2021. According to him, the stocks of the company will have a Capex of Rs 125-150 crore in 2021.