With bullish momentum backed by volume and momentum indicator readings, SEBI-registered analyst Vinay Taparia has identified three stocks that could deliver returns of up to 30% over the next 6 to 9 months, provided key support levels are maintained.
Let’s take a look at his stock recommendations:
Paradeep Phosphates
Paradeep Phosphates has formed a good bullish candle with high volume on Monday. The stock is expected to move to ₹240-₹250 levels within the next 6 to 9 months. But a close below ₹182 negates this view.
Track Precot
Track Precot has given a good breakout on Monday with high volumes. Its Relative Strength Index (RSI) is also above 60. The stock is expected to move to ₹720 levels within the next 6 to 9 months; a close below ₹590 would negate this view.
Hind Rectifiers
Hind Rectifiers has achieved a significant breakout with a substantial volume. RSI is also above 60. The stock is expected to move to the ₹1,680 level within the next 6 to 9 months, with the ₹1,350 level acting as support. A close below ₹1,325 negates this view.
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