Best Shares: The stock market is experiencing ups and downs as it experiences a record boom. Whatever happened in the beginning of this year has been recovered. The Sensex and Nifty have not only been in the green this year, but their returns have been in the double digits. However, the market’s uncertainties remain. Aside from inflation and geopolitical tensions, there will be concern about a possible recession. Experts also advise investors to be cautious and only invest in high-quality stocks. However, in the meantime, some stocks have seen a significant breakout. A good boom in these is expected in one month. Axis Securities has provided a list of four such stocks.
These stocks can give good profits in December
1. L&T Finance Holdings
- CMP: Rs 91
- Buy Range: Rs 91-88
- Stop loss: Rs 85
- Upside: 12%–23%
On the weekly chart, L&T Finance Holdings has broken out of the Symmetrical Triangular pattern. This pattern began in November 2021. Increased volumes have accompanied this breakout, indicating increased participation. The RSI weekly strength indicator is bullish. In the coming days, the stock could reach Rs 100-110.
2. APL Apollo Tubes Ltd
- CMP: Rs 1187
- Buy Range: Rs 1187-1165
- Stop loss: Rs 1113
- Upside: 11% – 15%
On a weekly basis, APL Apollo Tubes has broken through multiple resistance zones ranging from Rs 1150 to Rs 1177. Increased volumes have accompanied this breakout, indicating increased participation. On the weekly chart, the stock is making higher highs and lower lows. The RSI daily and weekly strength indicator is bullish. In the coming days, the stock could reach a level of Rs 1303-1350.
3. Dalmia India
- CMP: Rs 1936
- Buy Range: Rs 1910-1872
- Stop loss: Rs 1780
- Upside: 12%-18%
On the weekly time frame, Dalmia Bharat has broken through multiple resistance zones near 1800-1760. In addition, the stock has broken through the mid-term downward sloping trendline, indicating a trend reversal. The RSI daily and weekly strength indicator is bullish. The stock is expected to reach the level of 2113-2230 in the near future.
4. Coforge Ltd
- CMP: Rs 4250
- Buy Range: Rs 4250-4166
- Stop loss: Rs 4000
- Upside: 10%-14%
On the weekly time frame, Coforge has broken out of a double bottom pattern near the 3200 levels. The neckline is set at 4060. Increased volumes have accompanied this breakout, indicating increased participation. The stock is currently trending higher than its 20, 50, 100, and 200 day moving averages. The RSI weekly strength indicator is bullish. In the coming days, the stock could reach a level of Rs 4625-4800.
(Disclaimer: This is not the personal opinion of news24. There are risks in the market, so take expert opinion before investing.)
