2 Stocks HDFC Securities Gives A Buy For Gains Of 14% In The Near Term

Published: Wednesday, August 25, 2021, 10:25 [IST]

Indices have been hitting fresh highs and scaling fresh highs on the Sensex with Asian indices holding on to gains as the concerns around Fed going for asset tapering have eased. Sensex in trade today hit a high of 56,189, while on the Nifty the level scaled has been 16699.

Now as the momentum still looks positive given the global cues, here are top recommendations from the brokerage firm HDFC Securities for gains of up to 21% in a short term of 3 months:

1. Venkys:

The company has diversified operations in the poultry segment and includes production of SPF eggs chicken and eggs processing broiler and layer breeding animal health products Poultry feed & equipment soya bean extract and many more. As per the technicals suggested by the brokerage the company's stock price has corrected nearly 30% from the recent high and now reached near to an important long-term support. "Stock price reversed northwards and trading above its 5-day EMA with higher volumes. RSI Oscillator has exited from the oversold level and now placed above 30 levels. MFI Oscillator has fallen below an oversold level of 10 and now bounced back to 25 odd levels. Considering the Technical evidences discussed above, we recommend buying Venkys at CMP of 2560 and average at 2380, for the upside targets of 2875 and 3100, keeping a stop-loss at 2270", said the brokerage firm.

Stock	Current market price	Target	Upside
Venkys	2836	3100	9%

2. Schaeffler India:

The company is involved in innovating and shaping the global pace of change. With innovative technologies, products, and services for CO₂-efficient drives, electric mobility, Industry 4.0, digitalization, and renewable energies, the company is a reliable partner for making motion and mobility more efficient, intelligent, and sustainable. The company's major brands include FAG, INA and LuK.

For the stock the analysts from the brokerage sees a flag pattern breakout is seen on the daily chart. "Stock has broken out from last 5 week's price consolidation In the Month of July 2021, Stock registered multiyear breakout with jump in volumes Indicator and Oscillator setup has been holding bullish on weekly charts Short term moving averages are placed above medium to long term moving averages Nifty MNC Index looks very strong on short to medium term charts Stock has been forming higher tops and higher bottoms on weekly and monthly charts", says the brokerage report.