With exit polls predicting the landslide victory for Prime Minister Narendra Modi-led NDA alliance, brokerage firm Motilal Oswal has identified 8 stocks that can benefit from the government’s focus on manufacturing, capex, and infrastructure creation. These ideas are for 3-6 months and with potential upside of up to 20%.
ETMarkets.com
SBI is in an overall uptrend and forming higher highs – higher lows on a monthly scale. The stock has been outperformer within PSU space and likely to scale new record highs.
IANSHINDI
The stock has given a range breakout on weekly charts and holding well above 50 DEMA. Momentum indicator RSI is positively placed which may make the prices higher.
Agencies
The stock is in overall and trading at lifetime high territory and formed a strong bullish candle on monthly scale. The overall setup is bullish and buying is visible across defense space, which may support the ongoing momentum.
ANI
The stock is on the verge of giving a trend line breakout on daily scale and holding well above its 50DEMA. Buying interest is seen within CPSE stocks and stock is likely to scale higher.
Agencies
NHPC has formed higher highs and higher lows in the past few weeks and managed to close above 100 zones. Momentum indicator RSI is positively placed which may support the ongoing up move.
ETMarkets.com
Stock gave a range breakout above on the weekly scale and trading at lifetime high territory. Buying is visible across railway stocks which may take prices higher.
Agencies
NDMC has retested breakout on a weekly scale and taken support near its 50DEMA. Risk reward is favorable at the current juncture and likely to inch higher from current zones.
Agencies
The stock is in an overall uptrend and is on the verge of a breakout on the daily scale above 277 zones. HUDCO is likely to scale to a new record high and momentum indicator RSI is positively placed.
