Stock Tips: Brokerage and research firm ICICI Direct has advised to invest in five stocks including Reliance Industries and SBI in the new year, which are showing strong prospects of growth.
Stock Tips: Sensex and Nifty have jumped more than 21% in the year 2021 so far. According to technical analysts at ICICI Direct, the benchmark index is expected to reach 20,800 in 2022. Meanwhile, analysts have shortlisted five such stocks which point to a growth of between 25-26% on the charts in the coming year. The list includes stocks from banks, oil and gas, health care and media as well as technology sectors. The time frame for each trade is 12 months.
Reliance Industries
Target: Rs 2960 | Stop Loss: Rs 1,990
Upside: 25.4%
Mukesh Ambani’s Reliance Industries Limited (RIL) is one of the five stocks selected by ICICI Direct for 2022. Analysts said that RIL is getting support near its Mean+1*sigma levels on several occasions since March 2017. “The recent weakness in the market has again pushed the stock closer to these levels, which provides an opportunity for fresh entry from a medium term perspective,” he added. So far this year, RIL’s stock is trading at Rs 2,360 per share, up 19%.
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Mindtree
Target: Rs 5810 | Stop Loss: Rs 3925
Upside: 25.8%
This midcap IT stock is trading at Rs 4618 per share with a gain of 178 per cent so far this year. Analysts did not rule out any strength in Mindtree stock as it is still trading near all time highs. Analysts say, “However, we expect Mindtree to remain above its mean+2* sigma levels.”
PVR Ltd
Target: Rs 1,680 | Stop Loss: Rs 1,120
Upside: 27%
PVR has performed poorly this year with a fall of 1.52% since January 2021. The stock has declined due to the threat of COVID wave and repeated lockdowns. The stock is currently trading at Rs 1320, with its long-term mean levels close to Rs 1350. ICICI Direct said, “Since the volatility in the stock has also reduced as compared to last year, there is a good chance of fresh momentum coming back in the stock.” said. Delivery volumes have picked up at the lower levels of PVR.
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State Bank of India
Target: Rs 580 | Stop Loss: Rs 384
Upside: 27%
In the year 2021, the country’s largest bank SBI has grown by 64%. It is currently trading at Rs 457 per share. ICICI Direct said, “We believe the stock is in a major uptrend and any downside is a buying opportunity. Moreover, Mean+1* has been a good entry opportunity in Sigma stock.” SBI’s stock has seen some correction recently, making it an attractive buying opportunity.
Apollo Hospitals
Target: Rs 6045 | Stop Loss: Rs 4095
Upside: 25%
The share price of Apollo Hospitals Enterprise Limited has doubled in 2021 and is now trading at Rs 4,819 per share. ICICI Direct estimates that the stock may enter the Nifty 50 index in the next re-balancing round. “Liquidity flows are likely to remain high and the stocks are likely to outperform. Presently, the stock is trading near its Mean+1.5* Sigma levels, hence we can expect fresh buying interest in the stock.”
(Article: Kshitij Bhargava)
(The stock recommendations given in the story are those of the respective research analyst and brokerage firm. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)
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