With stock markets closed today on account of the Christmas holiday, investors may consider tracking these five stocks recommended by various brokerages ahead of the resumption of trade on Friday. Jio Financial Services stands out as a Christmas pick with an upside potential of 16%, while APL Apollo, CEAT, Godrej Consumer Products, and Belrise Industries also offer short-to-medium-term upside of up to 16%. Take a look!
Target: Rs 335-350Jio Financial Services is a Christmas pick by Choice Broking. It has shown notable strength after consolidating within a defined range and forming a solid base, indicating steady accumulation and improving demand at lower levels. It is forming a Flag & Pole pattern on the weekly chart, which typically signals trend continuation and suggests potential for an upside breakout once the consolidation phase ends. Support is placed near Rs 285.
(Sumeet Bagadia, Choice Broking)
Buy APL Apollo for 3-6 months. The stock is showing a well-structured Cup & Handle pattern on the daily timeframe, a formation that often signals trend continuation after a healthy consolidation. From a trend perspective, the price is now trading comfortably above its key short- and medium-term moving averages.
(Sachin Sarvade, IDBI Capital)
Stop Loss: Rs 3,650Target: Rs 4,200-4,300CEAT's pronounced correction in the recent period has pushed the stock price towards the 100 DEMA. Additionally, the 14-day RSI has shown a positive crossover and MACD, signalling a turnaround and adding to the bullish quotient.
Stop Loss: Rs 1,120Target: Rs 1,230-1,250Godrej Consumer has shown a rebound from the 1,120 zone in recent sessions, surpassing the 200-day SMA, which indicates the onset of a counter-trend. From a technical perspective, the MACD histogram has demonstrated buying momentum, moving above the signal line and creating a positive crossover. Furthermore, the EMAs are approaching positive crossovers, suggesting that this upward momentum is likely to continue in the near future.
Target: Rs 184Automotive components company Belrise Industries is a buy recommendation from SBI Securities. It has a leading market share in two-wheeler components and has longstanding customer relationships with leading OEMs, and its valuation remains attractive. The capacity expansion is also expected to drive growth.
(Sunny Agrawal, SBI Securities)
Curated by David Kim
