Stocks such as RACL Geartech and Mallcom (India) are among the top picks.
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
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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