In Samvat 2078, we don’t seem to be able to see as much momentum as we have seen so far. We may get to see profit booking in the new Samvat. However, Capital Via Global Research believes that in the new year, we may see stock specific movements in the market. This means that despite the pressure in the index, select stocks and stocks can see a rise.
Capital Via says that in the next Diwali we can also see the level of 22500 -23000. The broking house also believes that in Sawant 2078, we can see a rally in Capital Goods, Bank, Power, Chemical and Textile stocks.
Let’s take a look at CapitalVia Global’s Diwali pics-
KPR Mills | This stock has a buy recommendation on CapitalVia Global decline, for this it has given a target of Rs 540 in it. The broking house says that the double bottom pattern on the daily chart is indicating an uptrend in this stock. Apart from this, the geotextiles pilot project has been approved by the government, which will benefit the company.
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Manappuram Finance | This stock has a declining buy recommendation on Global Via for a target of Rs 250. This stock is in continuous bullish trend since last 1 month. The broking house believes that in this trend, soon this stock may break its all-time high of Rs 213 and move towards Rs 250.
Jammu and Kashmir Bank | This stock also has a downside buy call on Capital Via with a target of Rs 60. The Jammu and Kashmir Bank government is preparing to put 5 billion rupees in this bank, which is expected to strengthen the business of the bank.
Kotak Mahindra Bank | Capital Via has buy advice on this stock on this downside. The broking house has given a target of Rs 2,470 for this purchase.
Avenue Supermarts | This stock has a buy on dips recommendation by Capital Via. For this purchase he has given a target of Rs 5950. Broking house believes that this stock has good support around 4500. From this level, we see a rise of 25-26 per cent possible in this stock.
KEC International | This stock has a Buy on Dips recommendation by Capital Via. He has given a target of Rs 660 for this purchase. Broking house says that this stock has seen a breakout recently and the stock is bullish momentum. Hopefully we can see a growth of 20 percent in this going forward.
Mindtree | This stock has a Buy on Dips recommendation by Capital Via. For this purchase he has given a target of Rs 5378. The company is focusing on growth through tie-ups and acquisitions. We expect good growth in the business of the company going forward.
ONGC |This stock has a Buy on Dips recommendation by Capital Via. He has given a target of Rs 193 for this purchase. The company plans to invest in Regasification Terminal. The company will invest Rs 30,000 crore in the financial year 2021-22. The benefit of which will be seen going forward.
Gujarat Alkalies & Chemicals | This stock has a Buy on Dips recommendation by Capital Via. He has given a target of Rs 816 for this purchase.
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