From Shriram Properties, Havells To Vesuvius: SEBI RA Sees 15% To 30% Upside In These Six Stocks

Multiple stocks have broken key resistance levels with volume and technical indicators supporting the case for further upside. 

SEBI-registered analyst Vinay Taparia has flagged six such stocks, with price targets ranging from 15% to 30% gains over the next 6 to 12 months.
 

Let’s take a look at his recommendations: 

Shriram Properties

Shriram Properties witnessed a breakout from a small range with huge volume.  It has also seen a golden crossover recently and is trading above 50 and 200-day Exponential Moving Averages (EMAs). Its Relative Strength Index (RSI) is near 60. The stock can rise to ₹112-₹125-₹136 in the next six to nine months. But a close below ₹92 negates this view.

Havells India

Havells has given a breakout with good volumes after a few weeks of consolidation. Its RSI has also broken out. The stock can move to ₹1,800 level in three to six months time; a close below ₹1,500 invalidates this view.

RACL Geartech

RACL Geartech has given a superb breakout with huge volume. RSI is also above 60. The stock can move to ₹1,200 levels in the short term, but a close below ₹940 negates this view.

Vesuvius India

Vesuvius has given a small breakout with good volume on Tuesday. It closed above its 50-day EMA. The stock can move to ₹600-₹650 level in next six to nine months, but a close below ₹510 negates this view.

Mallcom (India)

Mallcom saw a small cup and handle breakout with good volumes. The RSI is also above 60, and the stock is sustaining above 200-day EMA, which is a positive sign. The stock can potentially move to the ₹1,600 level within the next six to nine months; however, a close below ₹1,195 would invalidate this view.

Rudrabhishek Enterprises

Rudrabhishek has formed a morning star pattern and has given a good breakout from the trading range of the past few days. The stock is likely to move to ₹200-₹235 levels over the next six to 12 months. But a close below ₹167 negates this view.

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