Domestic brokerage and research firm HDFC Securities has listed its 2 top picks which are expected to generate good returns over a period of 3 months. The names of Mahindra Logistics and UTI AMC are included in these top picks.
HDFC Security Top Picks
HDFC has top picks Mahindra Logistics: Now it seems that the sharp decline of February in this stock seems to be coming to an end. The price chart of this stock is pointing to a major consolidation pattern on the weekly time frame with a key support of Rs 407. Based on the technical analysis, HDFC Security has given a Buy Rating to Mahindra Logistics with a target of Rs 465/502 for it. The brokerage house says that we can see this target being achieved in the next 3 months.
At present, the share of Mahindra Logistics on NSE is seen near Rs 434.45 with an increase of Rs 4.20 or 0.98 per cent. Today’s Low of this stock is Rs 425.00 and High is Rs 435.75 while its 52 Week Low is Rs 391.10 and 52 Week High is Rs 821.00. The market cap of the stock is Rs 3,122. Today the stock opened at Rs 430.25, while the previous trading day closed at Rs 430.25.
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UTI AMC: HDFC Securities says that this stock seems to be coming out of its 5 trading days consolidation phase. Along with this price breakout, there has also been an increase in its volumes. On February 28, 2022, the stock had rallied over 5 per cent with a huge increase in volumes. Technical indicators like RSI are also showing signs of strength in this stock. It has gone up after breaking the big resistance of 20 days EMA. Apart from this, indicators like DMI and MACD are also indicating further strength in the current uptrend of the stock. In such a situation, while giving buy rating to this stock, HDFC Security has given a target of Rs 997 for this while it has been advised to put a stop loss of Rs 795 for this buy.
At present, the share of Mahindra Logistics on NSE is seen near Rs 959.45 with an increase of Rs 24.60 or 24.60 per cent. Today’s low of this stock is Rs 941.00 and high is Rs 966.35 while its 52 week low is Rs 538.00 and 52 week high is Rs 1,216.20. The market cap of the stock is Rs 12,179. Today this stock opened at Rs 943.60 while closed at Rs 934.75 on the previous trading day.
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