Two Nifty 50 Stock Recommendations for next week
Stock Recommendations: Two Nifty 50 Stocks can give good returns
Stock recommendations for next week: We have analyzed all Nifty 50 stocks and recommended below two stocks that have the potential to move higher in the near term. You can read our analysis and take the buying decision only if the market or the particular sector is positive.
Stock Recommendations- Bharti Airtel CMP- Rs 602.65 | Dt-15-01- 2021| Target price Rs 740
Bharti Airtel is our top Nifty 50 stock recommendations for the next week. The share price of Bharti Airtel closed at Rs 602.65 per share as of 15 January 2021. The 52-Week high of Bharti Airtel is Rs 612 and low at Rs 361.75. The company continues to gain market share in each quarter and its average revenue per user (ARPU) has also increased by 27%
On a weekly basis, the telecom giant Bharti Airtel has seen a good move, it gained 11.6% in the last week. It is trying an attempt to breach its all-time highs. With the strong bullish momentum in place, we think a move above Rs 614 could take the price higher towards a target of Rs 740 in the medium term.
Our first stock recommendations Bharti Airtel is also looking technically strong. According to the MACD analysis, the MACD line is 22.9 and the Signal line is 14.61. It indicates the stock is technically strong. As per the exponential moving average analysis, Bharti Airtel share price is in a strong uptrend it has a major support level at Rs 540- 512
Our Stock recommendations: We recommend our readers to wait for the breakout of this stock and buy above Rs 614 with a target of Rs 740 for the medium term.
Stock Recommendations- UPL CMP- Rs 522.55 | Dt-15-01- 2021| Target price Rs 625
Our second stock recommendation for the week is UPL from the chemical sector. The Nifty 50 stock has closed at Rs 522.55 per share on 15 January 2021. The UPL share price has touched a 52-week high at Rs 601.4 and a low at Rs 240.15. On a weekly basis, the UPL share price gained 3.75%.
The stock was in the news 10 days back after the company completed the pre-payment of $410 million of 3.25% Senior Notes due on October 2021. The stock is making a higher ‘top and higher bottom’ formation on the daily chart for the past few weeks. We think the stock will move above its 52-Week high price of around Rs 625 in the medium term
Our second Nifty 50 stock recommendations for the week UPL is looking technically strong. According to the MACD analysis, the MACD line is at 15.8 and the Signal line is at 10.75. It indicates the stock is in the uptrend. As per the exponential moving average analysis, UPL is in an uptrend and has a strong support level at Rs 481.
Our Stock Recommendations– You can buy the Stock at CMP or on dip around Rs 510 for the first target of Rs 537-554-570 with a stop loss of Rs 480. One can also hold the stock for the medium-term target of Rs 625 with a stop loss of Rs 452
You may also like to read, Top 3 Stock Picks for the next week (11-15 January 2021)
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