Time To Buy Gas Stocks: 3 Gas Stocks That Could rally Up To 22%

Prabhudas Lilladher has come-up with its latest report on gas stocks. According to the technical analysis done, the stocks of Gujarat Gas, Mahanagar Gas and Indraprastha Gas have the potential to rally sharply from here.

Buy Gujarat Gas for 22% upside

Prabhudas Lilladher technical analysts have set a price target of Rs 540 on the stock of Gujarat Gas, which implies an upside of 22% from the current levels.

"The stock has taken support near the trendline zone of 400 levels and indicated a decent pullback to witness some consolidation near 440-450 zone with overall trend remaining intact. The RSI indicator is well placed and has indicated strength with further upside potential in the coming days. We suggest to buy this stock for an upside target of 540 keeping the stop loss near 405," the brokerage has said.

Buy Indraprastha Gas for an upside of 14%

Prabhudas Lilladher technical analysts see an upside of 14% on the stock of IndraPrashtha Gas. The brokerage has set a price target of Rs 410 on the stock.

"The stock has maintained the support zone near the trendline support of 343 levels and witnessing a consolidation phase with improvement in the indicators. The RSI had indicated improvement and has potential to rise further in the coming days. We suggest to buy and accumulate this stock for an upside target of 410 keeping the stop loss near 330 levels," the brokerage has said.

 

Buy Mahanagar Gas for 19.66% upside

The firm also sees an upside of nearly 20% on the stock of Mahanagar Gas. "The stock has witnessed a decent pullback from the support zone of 670 levels and moving above the significant 50EMA level of 768 has shown prominent strength with upside movement anticipated in the coming days. The RSI has indicated a reversal from the oversold zone and is on the rise with immense potential on the upside. With the chart looking attractive, we suggest to buy this stock for an upside target 980 keeping the stop loss of 740," the brokerage has said.

Disclaimer

The stocks have been picked from the brokerage report of Prabhudas Lilladher. Greynium Information Technologies, 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 check with certified experts before taking any investment decision.