These 5 Stocks Can Give Upto 10-50% Returns In Next 3-6 Months: Technical Analysis

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Nifty 50 has been showing a bullish trend since a period of time in 2021. It has rallied 13% in the same year to touch the record high of 15,915 on June 28th. According to technical experts, their analysis suggests that future bullish trends may not be linear but limited to some stocks. 

“If we look at the current price action, we can conclude that although the index is inching higher, it’s dragging itself,” Mehul Kothari, AVP –Technical Research at AnandRathi said.

“This indicates that the bulls are losing steam. If we look at the technical target then the consolidation breakout above 15400 has the potential to bring the index near 16,200–16,400. However, that could be the buying climax for the markets because at this point in time there are some red flags which we are observing,” he said.

According to market analysis & expert advice, we sprinkled out the

5 Stocks Can Give Upto 10-50% Returns In Next 3-6 Months. 

  1. Dr Reddy’s Laboratories: Buy | LTP: Rs 5,559 | Target Price: Rs 6,000-6,200 | Stop Loss: Rs 4,900 | Upside 11%

This particular stock outperformed on July 1st and touched the price of Rs 5,577 registering a strong momentum. It has signaled a strong frame of all time. According to the analysis, the stock price had a breakout of Rs 4,135 in March 2021, the stock then jumped above expectation and outperformed from all stages. 

Dr Reddy’s Laboratories has shown a bullish trend over a period of time & can be considered as one of the stocks to rise upto 10-50% in coming 3-6 months. 

The stock is suggested for a buy call on a target of Rs 6,000-6,200,  with a stop loss of Rs 4,900 for long holdings. The time period can be considered as 3 months.

  1. SBI (State Bank Of India): Buy | LTP: Rs 420 | Target Price: Rs 480-500 | Stop Loss: Rs 350 | Upside 19%

From the past ten years, SBI has been increasing its share price accordingly. The price consolidation breakout is definite. 

According to the monthly chart, the stock has also confirmed a “V” graph breakout at 350 levels, signalling strength ahead. The stock is well placed above its 50, 100, and 200 day-simple moving averages. These averages are also inching up along with prices.

This reconfirms a strong upside trend across all time frames. The monthly and quarterly strength indicator RSI is in positive terrain, pointing to fixed strength at higher levels.

The buying range for SBI is Rs 410-390. Traders or even investors can go long for a target of Rs 480-500 with a stop loss placed below Rs 350. The ideal time frame is three-six months.

  1. TCS: Buy | LTP: Rs 3,341 | Target Price: Rs 3,750 | Stop Loss: Rs 3,110 | Upside 12%

TCS is the most valued stock of Indian stock market and tops the list of NIFTYIT. Not just traders but investors have trusted TCS & have put in wealth to make substantial profits. This particular stock also offers fresh entry options for the investors at different levels.

Expanding in the lockdown phase, TCS has given multifold returns to its investors over a period of time. The Venture Guide expects the stock price to move towards Rs 3,750, which would be the implication of the past five-month consolidation breakout. The prime support is assumed at 3,110 which is June 2021 low and 61.8 percent retracement.

  1. Tata Motors: Buy | LTP: Rs 344 | Target Price: Rs 405 | Stop Loss: Rs 324 | Upside 17%

Tata Motors which is holding a strong projection of electrifying the automobile industry in India is set to show an upward trend. The auto index has witnessed breaking above the consolidation of the last 5 or more months, signalling resumption of the up move. Among large-capital auto stocks, The Venture Guide remain constructive on Tata Motors as it formed a higher base above the major support price of Rs 280 and is seen resuming its primary uptrend, thus offering a new entry opportunity

The stock just  registered a breakout above the last four month’s consolidation range (342-279), thus opening upside towards Rs 405 as it is the measuring implication of the recent range breakout (342-279=63 points) added to the breakout area of Rs 342 signalling upside towards Rs 405.

The stock has witnessed a shallow retracement, while a higher base above the 20-week EMA and the 38.2 percent retracement of the previous up move (157-342) signals a robust price structure and higher base formation.

The weekly 14-period RSI has recently generated a buy signal.

  1. Tata Steel Ltd: Buy| LTP: Rs 1163| Target: Rs 1750| Stop Loss: Rs 1020| Upside 50%

Steel sector has shown a bull rally this year. The NIFTY Metals index has shown an uptrend of 60% in the first quarter of 2021. It went through a correction phase too from May to June. 

Following the correction phase, the steel stocks have shown stability with right growth across the globe. 

Within the sector, Tata Steel is outperforming Nifty and metal indices both. On the chart (0.5%*3), Tata Steel has placed a bullish tortoise breakout, rising double top buy and bullish continuation post bullish anchor column, suggesting a trend movement towards Rs1,750 in next 6 months. Support for this particular stock is placed at Rs 1,020.

The Venture Guide gives a buy call on all these shares with a target of minimum 3 months.

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