3 Profitable Stock Ideas For Medium Term From Prabhudas Lilladher, One Has Grown Massively By Upto 265.07%

Based on technical analysis done by Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt. Ltd, here are three stocks that are suitable for medium term. Given below are details.

Vaishali recommends buying pharma stock Lupin for a medium term, with a target price of Rs 730 per share at a stop loss of Rs 650 per share. Its 52-week high is at Rs 798.90 and 52-week low is at Rs 583.05. Its latest market price is Rs 654.50 per share, which is up by 0.02% on intraday basis. In one year the stock plunged by13.36%, while over three years it grew by 6.64%.

As per the technical note, buy auto stock Maruti Suzuki India Limited for brief time, with a target price of Rs 9,750 per share at a stop loss of Rs 8,400 per share. Its 52-week high is at Rs 9,768.65 and 52-week low is at Rs 7,009.60. Its current market price is Rs 8,467.55 per share, which is down by 0.59% over previous day's closing. In one year the stock price grew by 14.16%, while over three years it rallied by 54.3%.

Prabhudhas Lilladher suggests buying stock of JSW Steel Limited for a medium term, with a target price of Rs 755 per share at a stop loss of Rs 650 per share. Its 52-week high is at Rs 789.95 and 52-week low is at Rs 520.10. Its current market price is Rs 678.30 per share, which is up by 0.39% over previous day's closing. In one year the stock price grew by 5.76%, while over three years it grew massively by 265.07%

While about the Nifty and Bank Nifty she has shared the support and resistance levels.

NIFTY:

Nifty in the morning session witnessed resistance near 17500 zone and slipped down gradually with profit booking witnessed as the day progressed to end near 17150 levels breaching the important zone of 17200 to weaken the bias and sentiment. The index has the next major support zone near 16700 levels with 17000 acting as the psychological zone where there are chances that it can consolidate for some time. The support for the day is seen at 17000 while the resistance is seen at 17300.

BANKNIFTY:

BankNifty also tanked from 40600 zone and slipped significantly to touch 39500 levels with bias shattered and looking weak for further sessions. The 39500 zone is very important for the Bank index which is where the significant 200DMA also lies and a decisive breach can trigger for further intensified selling pressure with next major support zone visible near 38000-38200 zone. BankNifty would have the daily range of 39000-40000 levels

Disclaimer:

The stocks have been picked from the brokerage research of Prabhudas Lilladher, Greynium Information Technologies and the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.