The domestic stock market witnessed a record-breaking high as the BSE Sensex and Nifty 50 closed at unprecedented levels in the previous trading session.
Sensex crossed the 64,000 mark, while Nifty soared above 19,000 for the first time.
Anuj Gupta, Vice President of IIFL Securities, a leading domestic brokerage firm, has recommended five stocks that could potentially yield returns of up to 14 percent this week.
One of the recommendations includes a stock from the renowned Tata Group. Let’s delve into the expert’s strategy for investing in these stocks.
1) Infosys
IT major Infosys presents an excellent investment opportunity due to its strong breakout, substantial volumes, robust fundamentals, and engulfing candlestick patterns.
The stock closed at Rs 1335.20 on the BSE last Friday, recording a gain of 3.21 percent.
Experts predict that it could reach Rs 1380 this week, offering a potential return of over 3 percent. However, it is advised to place a stop loss at Rs 1285 for this investment.
2) Tata Motors
Shares of Tata Group’s giant, Tata Motors, offer an opportunity to earn more than 7 percent returns this week.
The company’s strong business health, coupled with increasing volume activity and a recent breakout, has created a bullish environment for investors.
Closing at Rs 595.80 with a gain of 1.5 percent on Friday, experts recommend targeting Rs 640, while setting a stop loss at Rs 564.
3) Indiabulls Housing
Indiabulls Housing is experiencing a fresh breakout, rising volumes, a bullish candle pattern, and maintaining a position above the 10 and 20-day moving averages.
These factors indicate a potential profit opportunity of more than 9 percent in this stock.
It closed at Rs 123.70 on the BSE last Friday, showing a gain of 6.20 percent, and could reach Rs 135 this week.
Investors are advised to set a stop loss at Rs 117.
4) South Indian Bank
Private sector bank South Indian Bank witnessed an 8.38 percent climb, closing at Rs 19.27 on Friday, June 30.
With a bullish chart structure and higher highs and higher lows, further positive signals are evident.
Experts believe that this stock has the potential to reach Rs 22, reflecting a 14 percent increase. However, it is crucial to set a stop loss at Rs 16 for this investment.
5) HDFC Bank
HDFC Bank, the world’s fourth-largest bank by market capitalization, stands as a fundamentally strong company.
Its stock’s trend indicates a bullish outlook, supported by favorable volume activity.
Experts suggest that this stock could rise more than 3 percent from the current level.
Having closed at Rs 1701.75 on the BSE with a 1.51 percent gain last Friday, it may reach Rs 1760 this week. Investors are advised to place a stop loss at Rs 1665.
Disclaimer
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