Slideshow | Reliance Securities bets on these 5 stocks for 11-68% returns
Reliance Securities bet on Bharti Airtel, Granules India, Aurobindo Pharma, Escorts and Alembic Pharma with an upside of 11-68 percent.
by Rakesh PatilReliance Securities bets on these five stocks for an upside of 11-68 percent:Bharti Airtel | CMP: Rs 593 | The stock is poised to march into the uncharted territory initially till Rs 850 levels and could possible continue the higher oscillation until Rs 950-1000 levels. It has surpassed multiyear resistance which was in place since 2007. Stock has gathered enough steam over a decade and oscillators on a higher time frame chart indicates a fresh trend is commencing. | Upside: 68 percentEscorts | CMP: Rs 909 | The intermediate resistance for the stock was placed at Rs 850 levels. Break of which will open the way for Rs 1017 which happens to be life time high. The monthly oscillators are now indicating fresh momentum which could be supportive for the price to march towards the northern trajectory. However, stock prices the holds the potential to travel beyond the historical highs until Rs 1100. | Upside: 21 percentAlembic Pharma | CMP: Rs 897 | Alembic Pharma has posted a consolidation breakout in the month of April 2020. This consolidation was in place since 2015 and stock has posted a decisive close above Rs 700 levels. In addition to this, Alembic pharma as surpassed the historical high levels Rs 791 and stock is gearing for fresh uptrend initially till Rs 1000 mark. However, the oscillators on a higher time frame chart indicates the stock prices could possibly witness extended moves beyond Rs 1000 mark. | Upside: 11 percentGranules India | CMP: Rs 165 | Granules posted a historical high in February 2020 at Rs 188 levels This breakout came on back of a consolidation which was in place since Jan 2016 until February 2020. Stock later eased to almost Rs 115 levels. At the current levels of Rs 165, the stock gearing up for a initial leg of up move until Rs 185-190. However, monthly oscillators indicate on a decisive break of Rs 185-190 levels, stock could possibly continue the rally for a target of Rs 210-215 levels. | Upside: 30 percentAurobindo Pharma | CMP: Rs 730 | The stock is poised for a initial leg of up move until Rs 800-850 mark. In the current scenario stock may correct approximately 3%-5%. However, this correction could be consider as on opportunity to add long position. Stock has completed its prolong correction which was in place since 2016. Monthly oscillators are now gearing up and indicating fresh moves could unfold on the higher side. A decisive close above Rs 850 will open the way for higher moves until Rs 1,000. | Upside: 37 percent
