Top 5 stocks that will give 12%-16% returns for the next 3 months:
Top 5 stocks that: From the last four-session, the Sensex and Nifty enters into the bullish trend rather bearish. The Nifty hits almost 10,200 levels on June 3rd stock market. But on June 4th, the Nifty index made some corrections and trading below 10,035 level. Whereas the Nifty index gain from 9,004 level to 10,176 level on June 3rd.
Besides, the analysts also expected that Nifty will trade below 9,880 level and made some corrections towards 9,600 level. From 9,600 level the selling pressure will take place and the index will again make some corrections to 9,400 level. On the other side, if Nifty above 10,176 then it rallies towards 10,500 level.
On Thursday, the early trade of both Sensex and Nifty continues its bullish trend in the stock market. But after some time the market entered into a bearish trend. The Sensex is trading below 33,900 levels, and Nifty is trading below 10,000 levels in the stock market. The Sensex lost 254.21 points with a 0.73% decrease and reached a 33,859.20 level. While Nifty lost 69.80 points with a 0.69% decrease and reached 9,990.15 level.
On the other side, the number of coronavirus cases in India reached 2,16,919 as of Thursday, June 4th, and deaths reached 6,075.
Here are the Top 5 stocks to buy in June that will give 12-16% profits in the next 3 months.
Indraprastha Gas: Buy | Target: Rs 570
The company in February and March reported bearish trends in the stock market. The stock reached Rs 284 from Rs 534 in the stock market. Later the company stocks rally towards 500 level in the stock market.
Besides, the company formed a “Three Outside Down Candlestick pattern” in the weekly chart. The experts suggest buying the stock within the range of Rs 480 and targets for Rs 570 with stop loss at 465.
However, Indraprastha Gas Limited on Thursday reported a bullish trend in the stock market. The company gained 19.20 points with a 3.98% increase and reached 509.20 INR. While in BSE, the company gained 20.15 points with a 4.12% increase and reached 509.40 INR.
Berger Paints: Buy | Target Rs 580
The company shares decreased to Rs 390 in March from Rs 595 in February. Later the stocks of the company rally towards 547 level by forming a bullish double bottom candlestick pattern in the daily chart. While the company also formed a Hammer Structure Candlestick pattern on the Monthly chart.
However, experts suggest buying the stocks within the range of Rs 495 and targets for Rs 580 with stop loss at Rs 478.
However, Berger Paints India Limited on Thursday reported a bearish trend in the stock market. The company lost 11.60 points with a 2.21% decrease and reached 504.35 INR. While in BSE, the company lost 10.90 points with a 2.12% decrease and reached 504.45 INR.
Sanofi India: Buy | Target Rs 9,400
The company in April hits 52-week high in the stock market and reached an 8,584 level. Later it was corrected to below 7,306 level. However, the company formed a higher top and higher bottom candlestick pattern in the monthly chart. While the company also formed Three Outside Up Candlestick Pattern in the Daily chart.
Besides, the expert suggests buying the stocks within the range of Rs 8,000 and targets for Rs 9,400 with a stop loss at Rs 7,750.
Tata Steel: Buy | Target Rs 707
The company shares decreased to Rs 250 from Rs 500 in the month of January-March. The company stock has strong support from the level of Rs 300 and Rs 250 respectively. The stock gets strong support with high volumes and momentum.
The company formed a Bullish gap up candlestick pattern in the monthly chart. While the company also formed a Bearish engulfing Candlestick Pattern in the Daily chart. However, the expert suggests buying the stocks within the range of Rs 311 and targets Rs 360 with a stop loss at Rs 302.
Bharti Airtel: Buy | Target Rs 635
The company rally from 200-day moving average to 400 levels and later it bounce back to 612 level. In the last two weeks, the stock made some corrections from high on the weekly chart.
The company formed a Bullish piercing candlestick pattern in the monthly chart. While the company also formed a Three outside down Candlestick Pattern in the Daily chart. However, the expert suggests buying the stocks within the range of Rs 550 and targets Rs 635 with a stop loss at Rs 525.