November 5, 2024

Navratri 2024: 5 largecap, midcap, smallcap stocks to buy for 10% upside

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Navratri 2024: 5 largecap, midcap, smallcap stocks to buy for 10% upside

Source: Business Standard

4 min read Last Updated : Oct 01 2024 | 2:44 PM IST


Equity markets have witnessed a fabulous run in the year 2024 thus far; with as many as 36 out of the Nifty 500 stocks more than doubling investor wealth. Top gainers include stocks such as GE T&D India, Godfrey Phillips, Rail Vikas Nigam and Hitachi Energy. 


As we enter festive season of Navratri 2024 – the festival is celebrated in honour of Goddess Durga as a symbol of victory of good over evil. In India, apart from the religious significance the festivity is seen celebrated in its unique dance form and colourful attires.

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Back to markets, given this auspicious period, here are five stocks that could generate up to 10 per cent returns in the near-term.


Bharat Dynamics (BDL)


Current Price: Rs 1,136


Upside Potential: 14.4%


Support: Rs 1,124; Rs 1,078


Resistance: Rs 1,200; Rs 1,246

Given the oversold conditions on key momentum oscillators and presence of strong support levels, the stock may attempt to pullback in the near-term. As such, a bounce towards its super trend line on the daily scale seems imminent at Rs 1,246; above which the stock can potentially rally to Rs 1,300 levels. Near resistance for the stock can be expected around Rs 1,200. CLICK HERE FOR THE CHART


Trident


Current Price: Rs 37.20


Upside Potential: 11.8%


Support: Rs 36.40

Resistance: Rs 37.50; Rs 39.10


Trident stock has recently given a breakout above its 20-DMA and key momentum oscillators after more than a month. The stock at present is seen testing resistance around its super trend line on the daily scale at Rs 37.30; above which immediate resistance is seen at Rs 37.50.

Break and sustained trade above the same can trigger a rally towards 41.60 levels, with interim resistance likely around Rs 39.10. In case of a dip, the 20-DMA at Rs 36.40 is likely to act as a support. CLICK HERE FOR THE CHART


Colgate Palmolive (India)


Current Price: Rs 3,775


Upside Potential: 11.5%


Support: Rs 3,677


Resistance: Rs 3,900; Rs 4,050


Colgate Palmolive stock is likely to trade on an upbeat note as long as the stock holds above Rs 3,775. In case of a decline, the stock is expected to find support around its 20-DMA at Rs 3,677. 


JK Lakshmi Cement


Current Price: Rs 781


Upside Potential: 12.7%


Support: Rs 760


Resistance: Rs 801; Rs 812; Rs 839

JK Lakshmi Cement is seen attempting a breakout on the daily scale after a long-period of consolidation. The stock is testing its near hurdle at 20-DMA at Rs 782. Break and sustained trade above the same can trigger a rally towards Rs 880; with interim resistance seen at Rs 801, Rs 812 and Rs 839 levels. In case of a dip, support for the stock can be expected around Rs 760. CLICK HERE FOR THE CHART


Siemens


Current Price: Rs 7,414


Upside Potential: 10%


Support: Rs 7,374

Resistance: Rs 7,600; Rs 7,800


Siemens stock is likely to trade on a buoyant note as long as the stock sustains above the higher-end of the Bollinger Bands on the daily scale, which stand at Rs 7,374. Below which near support for the stock exists at Rs 7,150 – its 20-WMA (Weekly Moving Average). 

On the upside, the stock can potentially rally to Rs 8,155; with interim resistance likely around Rs 7,600 and Rs 7,800 levels. CLICK HERE FOR THE CHART

 

First Published: Oct 01 2024 | 1:00 PM IST



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