Nifty and Sensex even as most expected would remain unnerved by the second wave has seen a sharp fall from its highs scaled in February and now experts are of the view that the current dips present buying opportunity and more precisely into Covid -19 proof sectors.
So, here we lists out some of the experts recommendations for handsome gains in few weeks time:
The weekly 14-period RSI looks positive and the correction in the stock has been over. And at current market price of Rs. 103- 104, there is a potential for the stock to still move higher in price as indicated by the intermediate and long-term technical setups. As it is the stock is trading above the 20 day and 50-day moving average. The target set for the stock is Rs. 115 and stop loss of Rs. 103 be placed.
This scrip is seeing mixed action at one place for not meeting Remdesivir requirement there has been threatened action and at another brokerages have been recommending the pharma counter for good gains. ICICI Securities has recommended a 'Buy' call on the stock with a target price of Rs. 1025 per share. "Stock in strong up trend sustaining above the rising trendline breakout area joining previous highs since August 2020 and MACD in buy mode", suggests the brokerage.
3. Strides Pharma Science:
From the current levels, a huge rally is seen to a target price of Rs. 1200, meaning an upside of 75 percent. The stock is trading above all averages that are in a rising trend. The stop loss for the stock suggested is Rs. 780.
4. Graphite India:
The stock has been trading above its 200-day moving average. Investors can look at buying Graphite for a target of Rs 790 in the medium term with a stop loss at Rs 440. The recommendations are of CapitalVia Global Research.
5. Jubilant FoodWorks: Buy/ Target- Rs. 3000
A strong reversal formation near the retracement support zone indicates bears have started to lose interest in the stock. If it consistently trades above Rs. 2720 as it is now, a pullback rally may be expected. At current levels, traders can buy into the stock for a target of Rs. 3000 and on dips between Rs. 2820 and Rs. 2780, with a stop loss below Rs. 2720.