Top Stock Research for the week 4th Jan to 8th Jan 2021
3 Top Stock Research for the next week
3 Top Stock Research: We have done an analysis of 3 Nifty 50 stocks for the next week. The analysis is based on various parameters like sector, technically, fundamentally, and data analysis. According to us the three stocks for the next week are given below.
Ultratech Cement- CMP – 5290.8 as on 01-01-2021
In the top stock research this week, Ultratech Cement is our first pick. It’s a fundamentally strong Nifty 50 stock. The Ultratech Cement share price closed at Rs 5290.8 on 1st Jan 2021, it touched a 52-week high at Rs 5400 and low at Rs 2910.
Technically Ultratech share price has consolidated above its all-time highs.,its RSI indicating strong bullish momentum and 200-DMA inching higher indicating growing strength. MACD is 106 and the Signal line is 96.9 indicating it’s a technically strong stock. According to exponential moving average analysis, Ultratech Cement is in a strong uptrend and has support levels 5108
Our Suggestion: You can buy the stock at the current level or around 5250 with a Stop Loss of 5108 for the target of 5350-5410-5480. You can also accumulate the stock for the long term target of 5920 with a stop loss of 5030.
HDFC Life- CMP Rs 678.4 as of 1st January 2021
In the top stock research for the 4th to 8th January week, HDFC life is our second pick. It is a fundamentally strong Nifty 50 stock. HDFC life share price closed at Rs 678.4 per share on the last trading day 1st January 2021. It has touched a 52-week high at Rs 688.5 and a low at Rs 340.
Technically, HDFC life has recently broken above a crucial resistance of 645 and is currently trading above it. The RSI is indicating the stock is technically strong. The MACD is 10.2 and the Signal line is 8.62 indicating a buy signal for the stock. According to exponential moving average analysis, HDFC life is in a strong uptrend and has major support levels at 658-639 levels.
Our suggestions: You can buy the stock at CMP for the target of 689-696-702 with a stop loss of 658. You can hold the stock for the long term target of 840 with a stop loss of 622.
JSW Steel- CMP Rs 389.7 as of 1st January 2021
Our third pick for the week in the top stock research section is JSW Steel. it is a Nifty 50 stock and the company is engaged in the business of production and distribution of iron and steel products. The share price of JSW Steel closed at Rs 389.7 per share on 1st January 2021. It has touched a 52-week high at Rs 393.9 and a low at Rs 132.5.
Technically, the RSI of JSW Steel is indicating strong bullish momentum. MACD line is 10.8 and the signal line is 9.57, according to MACD analysis, JSW Steel is showing technically strong. As per the exponential moving average analysis, JSW Steel is in a strong uptrend, it has a major support level at 369-348
Our Suggestions: You can buy the stock at CMP for the target of 394-402-409 with a stop loss of 369. You can also hold the stock for a long term target of 426
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