Sumary of Hot Stocks | Asian Paints, Berger Paints India, DMart can give up to 19% return in short term:
- Nifty has maintained its higher top higher bottom formation on the monthly charts but has formed a ‘Doji’ candle pattern at the lifetime high levels which shows some fatigue in the uptrend.
- The key support levels to watch out for in the short term are 15,430 and 15,145. On the upside, the key resistance level is 15,962.We believe that the long-term bullish trend remains intact.
- RSI plotted on multiple timeframes can be seen placed above the 60 level and moving higher, indicating strong positive momentum.
- Berger Paints India | LTP: Rs 854.50 | Target price: Rs 1,015 | Stop loss: Rs 820 | Upside: 19%This stock has been maintaining a bullish pattern of higher top higher bottom on the monthly timeframes since September 2020 which shows a strong positive undertone for the longer term.
- On the daily charts, the stock has been continuously sustaining above its 20-day simple moving average (SMA) and has formed a ‘CIP’ formation which indicates the strong positive nature of the stock for the short to medium term.
- RSI plotted on the medium-term can be seen moving higher and sustaining above 60 level, indicating strong momentum in the current up move.
- Avenue Supermarts (DMart) | LTP: Rs 3,400 | Target price: Rs 3,757 | Stop loss: Rs 3,251 | Upside: 10.5%On the monthly charts, the stock has maintained its strong bullish mode with the formation of higher top higher bottom formation and also sustaining at lifetime high levels.
- RSI plotted on multiple timeframes can be seen placed above the 60 level and moving higher.