If you want to earn more money in less time then you can invest in these 6 stocks.
New Delhi. If you want to earn money from share market then you have a great opportunity. Nifty has shown a rally of 13 percent so far this year and on June 28 it also made a record high of 15915 but since then it has been consolidating while the larger trend remains bullish. Technical experts have warned that from here the rise in the index may not continue for a long time, but there will continue to be opportunities for bullish in stock-specific trades.
Know what experts say?
Mehul Kothari of Anand Rathi said that if we look at the current price action, we see that even though the index is going up, it is dragging itself down. It seems that the bulls are losing their enthusiasm. If we look at the technical target, after the consolidation breakout above 15400, the index shows the potential to move from 16200 to 16400. But here there could have been a buying climax-like environment in the market because at this level we also get scared while buying. He further said that if Nifty slides further down then 15400 will be a decisive support for Nifty and if this level also breaks. Happens the index may slip down to 1500 where again a buying opportunity can be created.
Earnings from these shares will be
According to experts, you can get double the returns from these stocks in the coming time. These shares are-
1. Dr Reddys Laboratories: Buy| LTP: Rs 5,559| Target: Rs 6,000-6,200| Stop Loss: Rs 4,900| Upside 11%
The stock has hit a new high of Rs 5577 on 1st July, which shows a strong momentum at higher levels. The stock has been making higher tops and higher bottoms indicating that it will remain strong across all time frames. Therefore, it should be bought at 5,559 levels and a target of 6,000-6,200 can be seen.
2. SBI: Buy| LTP: Rs 420| Target: Rs 480-500| Stop Loss: Rs 350| Upside 19%
On the Monthly chart, the stock has confirmed a breakout V pattern at 350 level which shows strength. The stock is well placed at its 50, 100 and 200 day-simple moving averages. These averages seem to be moving its price upwards. The range of buy and acumen in SBI is Rs. 410 to Rs. 390. Traders should make long positions in it for 3 to 6 months with a stop loss of 350 for a target of 480 to 600.
3. TCS: Buy| LTP: Rs 3,341| Target: Rs 3,750| Stop Loss: Rs 3,110| Upside 12%
TCS continues to be the biggest outperformer of the IT sector in the current market. Its share price is resolving from a five-month consolidation pattern indicating a structural uptrend and creating new entry points. This stock has held its rising 10-week EMA several times in the last 15 months, which shows buying trend even with its rising prices. Therefore, this stock should be bought at the level of 3341 and its price can go up to 3750.
4. Tata Motors : Buy| LTP: Rs 344| Target: Rs 405| Stop Loss: Rs 324| Upside 17%
The stock has seen a breakout above the consolidation range (342-279) of the last 4 months. Since then it seems to be going up to the level of 405. Apart from this, the weekly 14-period RSI has given buy signals recently. This stock has been advised to buy at 344 level with a target of Rs 405.
5. Tata Steel : Buy| LTP: Rs 1163| Target: Rs 1750| Stop Loss: Rs 1020| Upside 50%
Tata Steel is outperforming on both Nifty and Metal indices. Tata Steel has created a Bullish Turtle breakout on the P&F chart which shows a bullish trend ahead and indicates that buying at the top level is likely. In this, the level of 1,750 can be seen in the next 6 months.
6. ICICI Bank : Buy| LTP: Rs 630| Target: Rs 780| Stop Loss: Rs 570| Upside 23%
ICICI Bank has been consolidating at the top since its breakout in February 2012. The support for this stock is also moving upwards. It looks like this consolidation will see an upward move as ICICI Bank continues to outperform on Bank Nifty. One should buy this stock for the next 6 months with a stop loss of Rs 570 for a target of Rs 780.
(Disclaimer: Views and investment advice on News 18 Hindi are the personal views and opinions of investment experts. News 18 advises users to consult a certified expert before making any investment decision.)
