Stock recommendations- Top 3 Stock Picks for next week
Top 3 Nifty50 Stock recommendations for next week that can give you a good return
Stock Recommendations for next week (8-12 Feb): We have done an analysis of all Nifty50 stocks and are recommending three top stock picks for the next week for the short to medium term.
Stock Recommendations- ITC CMP- Rs 234.35 | Dt-05-02-2021| Target price Rs 265
ITC Limited is our first stock picks it is a diversified conglomerate with businesses like FMCG, Cigarettes, Personal care, Hotes, Agri, etc. The share price of ITC has touched Rs 234.35 and a 52-week high at Rs 238.85 on 5th February. The share price of ITC has touched a 52-week low at Rs 134.6. On a weekly basis, the share price of ITC has gained 15.3 percentage. The December end quarterly result of ITC will be announced on the 11th of February.
The share price of ITC is technically strong. The MACD line is at 4.49 and the Signal Line is at 2.68. According to MACD analysis, a bullish crossover just happened and is a positive signal. According to the exponential moving average analysis, the ITC share price is in a strong uptrend. It has a major support level at 215-207-199.
Our Stock Recommendations: You can buy the stock for the short term target of Rs 250 with a stop loss of Rs 228. You can also hold the stock for the medium-term for the target of Rs 265 with a stop loss of 215.
Stock Recommendations- ICICI Bank CMP- Rs 614.15 | Dt-05-02- 2021| Target price Rs 700
Our second stock pick for the week is a private lender, ICICI Bank Limited. The share price of ICICI Bank closed at Rs 614.15 on 5th February, last Friday. It has touched a 52-week high at Rs 635.3 last Friday and a low at Rs 268.3. On a weekly basis, the share price of ICICI Bank gained 14.3% while on monthly basis it gained 13.5%.
The share price of ICICI Bank is technically strong. The MACD line is at 23.6 and the Signal line 13.1, according to MACD analysis, ICICI Bank is technically strong. The exponential moving average analysis is indicating ICICI Bank is in a strong uptrend. It has a major support level of Rs 567-531.
Our Stock Recommendation: You can buy the stock at the current market price for the short term target of Rs 635-644-653 with the stop loss of Rs 602. You can also hold the stock for the medium-term target of Rs 700 with a stop loss of Rs 567.
Stock Recommendations- Bajaj Finance CMP- Rs 5538.55 | Dt-05-02- 2021| Target price Rs 5900
Our third stock pick is Bajaj Finance, a leading non-banking finance company (NBFC) listed in Nifty50. The company is engaged in the lending and allied activities. The share price of Bajaj Finance closed at Rs 5538.55 on the last trading day 5th February. We recommend the stock to buy for the medium-term target of Rs 5900.
The Bajaj Finance share price touched a 52-week high at Rs 5627 on the last trading day on 5th February and a low at Rs 1723. On a weekly basis, it gained 17 percentage.
As per the RSI indicator, the Bajaj Finance share price is technically strong. The MACD Line is at 95.1 and the Signal line is at 14.47, according to MACD analysis, Bajaj Finance is technically strong. According to exponential moving average analysis, Bajaj Finance is in a strong uptrend, it has a major support level at 5092-4884.
Our Stock Recommendations: You can buy the stocks at the current market price for the short term target of Rs 5702- 5900 with a stop loss of Rs 5388
You may also like to read, Top 3 Stock Picks for the next week (11-15 January 2021)
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