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Wednesday, December 1, 2021

Stock Tips: Invest in these four stocks including Airtel, golden chance to make great profits in volatile market, check target price

Nifty trend still weak but pullback rally may extend to 17600-17650 buy these 4 stocks including bharti airtel for gainsInvestors can earn profits by investing in Bharti Airtel, HCL, Grasim Industries and Indiabulls Housing Finance. (Image- Pixabay)

Nifty 50 Outlook: After four consecutive days of decline, there was a sharp recovery in the domestic benchmark index in the volatile market on Tuesday. After weakness in early trade, the market got support at 17200/57700 level and Nifty and Sensex closed with gains. The best buying was seen in metal stocks and Nifty Metal closed with a gain of 3.5 percent. Technically, the short-term formation is still looking weak but due to excessive oversold conditions, there was a technical bounce in the market. It also formed a bullish candle. In such a situation, there is a possibility of further growth.

The 17400/58300 level is very important for the market and if it catches up, it can reach 17600-17650/59000-59150. However, if the market is not able to maintain the momentum, then it can slip to 17330-17280/58000-57800. Talking about individual stocks, you can earn profits by investing in Bharti Airtel, HCL, Grasim Industries and Indiabulls Housing Finance.

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Bharti Airtel: BUY
CMP – Rs 758.00 | TARGET – Rs 795 | SL – Rs 740

The stock broke the ascending triangular chart pattern with a strong Bullish candlestick. Apart from this, the shares of Airtel have made higher bottom on the daily chart. In such a situation, there are signs of further upside in this stock.

HCL Technologies: BUY
CMP – Rs 1115.75 | TARGET – Rs 1170 | SL – Rs 1090

Slippage in HCL shares has now been curbed from the high of Rs 1360 and is now consolidating in a range with better volume activity near the retracement support zone. With this, the stock is showing signs of a bullish trend.

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Grasim Industries: BUY
CMP – Rs 1776.80 | TARGET – Rs 1870 | SL- Rs 1740

When Grasim Industries reached a high in the midst of a boom on the daily chart, investors booked profit in it. However, support was found near the Fibonacci retracement zone and volume activity increased near the support area. Due to this, the stock may see a rally.

Indiabulls Housing Finance: BUY
CMP – Rs 216.45 | TARGET – Rs – 230 | SL – Rs 212

Broadly speaking, this stock is moving up and down in the price range of Rs 200 to Rs 250. Right now after the short term correction, its prices are near the lower range. In such a situation, profits can be earned on investing in it in the coming business days.
(Current price – CMP is the closing price of one trading day ago on NSE.)
(Article: Shrikant Chauhan, Head of Equity Research (Retail), Kotak Securities)
(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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