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Monday, January 17, 2022

Stock Tips: Golden chance of great profit on investment in these three stocks including TCS, the level of 17500 is important for Nifty

Nifty to face resistance at 17500 and 18000 levels TCS Bharti Airtel among stocks to buy this week stock tips best stocks to buyInvestors can earn handsome profits by investing in TCS, Bharti Airtel and Grasim. (Image- Pixabay)

Nifty Outlook: After a long time the volatility in the market has increased and the Indian Volatility Index has exceeded 18. After the arrival of a new variant of the corona virus, selling pressure is visible in the equity market globally. The RSI oscillator is looking weak on the daily and weekly charts but is not showing any immediate signs of a sharp decline. Talking about the overall chart structure, Nifty 50 can trade in a wide range with heavy volatility. Talking about the higher side, Nifty may have to face resistance at the level of 17500 and then 18 thousand. Talking about downside, it is getting support at 16800 and 16500 levels.

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On the positive side, the situation is looking positive at the fundamental and macro level, the economy is also showing recovery and the high-frequency indicators are now crossing the pre-corona level as well. The figures of GDP and GST collection are also showing positive signs, which are also showing great signs of equity growth going forward. Investors can earn handsome profits by investing in TCS, Bharti Airtel and Grasim.

TCS – Buy (CMP: Rs.3641)
Stop-loss: Rs 3580 | Target: Rs 3800

TCS has formed a strong base near the 200 day EMA (Exponential Moving Average) and a consolidation breakout near the Rs 3570 level on the daily charts. The stock is forming a bullish candle on the weekly scale and has crossed the 5 week consolidation, which shows a buying trend. The RSI (Relative Strength Index) oscillator is looking strong on the weekly scale, which is providing support to its sentiment.

Bharti Airtel – Buy (CMP: Rs 718.20)
Stoploss: Rs 695 | Target: Rs 770

The stock is forming a higher bottom pattern on the weekly scale, which is showing signs of further upside. Right now this stock is close to its record high level and it seems to be moving strongly on the weekly and monthly charts. The RSI oscillator is showing positive signs for its stocks.

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Grasim – Buy (CMP: Rs. 1702)
Stop loss: Rs 1660 | Target: Rs 1825

This stock has slipped from its record high level of Rs 1893 and fell to a low of Rs 1650. On the daily chart, it got excellent support at the level of Rs 1650 and on this basis it made a great comeback to the level of Rs 1702. However, due to increasing volume activity near the support area, there is a possibility of further upside in its price. In such a situation, investors can earn great profits by investing in it.
(Article: Rahul Shah, Senior Vice President, Group Advisory Leader – PCG (Broking Distribution), Motilal Oswal Financial Services)
(The stock recommendations given in the story are those of the respective research analysts and brokerage firms. 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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