Top 5 stocks that will give double-digit returns for next 2 months

Top 5 stocks that will give double-digit returns for next 2 months

Top 5 stocks that will give double-digit returns for the next 2 months

Top 5 stocks: The impact of coronavirus is still on the global market. Whereas, the Indian market is struggling a lot in the last four consecutive sessions. On, Thursday, both Sensex and Nifty both are trading bearish trends in the market. The Nifty50 lost 71.15 points with a 0.61% decrease and reached 11,606.30 level. While Sensex lost 218.66 with a 0.55% decrease and reached 39,673.06 level.

Whereas, the boarder markets like S&P BSE Midcap lost 118.21 points with a 0.77% decrease and reached 15,053.92 level. The S&P BSE Smallcap lost 137.27 points with a 0.96% decrease and reached 14,193.01 level.

After the gap, the Nifty found support at 200-Day Moving Average and stands at 11,686 and will be back to fill it. But the selling of shares bounces back to the long-term average. However, the market continuously declines to 11,490 and then 11,340 levels. The Nifty needs to cross 11,800 reported on February 26 and bounce back to 12,000.

Expert suggests traders buy shares within the range of 11,800 -11,700 level, Whereas, the sell call at 12,000-12,500 level.

Here is the list of Top 5 stocks that will give 14-16% return for the next 2 months:

Varun Beverages Ltd: Buy

The company stock is trading bullish in the last two weeks by the formation of higher tops and higher bottoms in the weekly chart. Whereas, the company touched its 52-week high on NSE at Rs 870. The company share value is in the range of 846-870 level and forms a Symmetrical triangle pattern in the daily chart.

The company stock has seen strong & solid growth on “21-Day Exponential Moving Average”. In this consolidation period, it forms a long bullish candle with high volume during this period. 

Expert suggests traders buy within the range of Rs 815-825  target for Rs 965, and stop-loss at Rs 795.

Polycab India Ltd: Buy

The company stock in long-term uptrend forms “higher tops and higher bottoms” in the weekly chart.  From the last three months, the stocks witnessed positive growth by forming higher highs.

Expert suggests traders buy within the range of Rs 1,162-1,125  target for Rs 1,320, and stop-loss at Rs 1,080.

Westlife Development Ltd: Buy

The company share has seen a double-digit growth of Rs 450 and Rs 160 in the long-term chart. However, the shares of the company touched its 52-week high at Rs 499. The shares of the company on a monthly chart forms the Bollinger Band, the expansion of bands indicates a continuous uptrend.

Expert suggests traders buy within the range of Rs 457-475 target for Rs 550, and stop-loss at Rs 450.

GAIL (India) Ltd: Sell

This company stocks continuously trading low in the stock market by forming the “lower top and lower bottom” in the weekly chart. After trading at Rs 121 level for a few months, the company stocks bounce back and reached a 52-week low on NSE.

Expert suggests traders sell within the range of Rs 105-110 a target for Rs 90 and stop-loss at Rs 114.

Hindalco Industries Ltd: Sell 

This company stocks continuously trading low in the stock market by forming the “lower top and lower bottom” in the weekly chart. After trading at Rs 284 level last year, the company stocks bounce back and reached a 52-week low on NSE at Rs 171.

Expert suggests traders sell within the range of Rs 168-172 a target for Rs 145 and stop-loss at Rs 177.

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