Money-Making Ideas: Stocks Poised for Up to 21% Gains
The Nifty and Sensex posted their biggest weekly gain in over four years, surging 4.2% on Friday. This rally was fueled by signs of foreign investors returning to the market and renewed optimism that blue-chip indexes have bottomed out after a period of decline.
In this bullish environment, analysts have identified four stocks with the potential to deliver short-term gains of up to 21%.
1. Bandhan Bank – Potential Upside: 21%
• Buy at: ₹145
• Stop Loss: ₹130
• Target Price: ₹156-175
Bandhan Bank’s price action indicates a significant decline of 41% over the past year. However, over the last few weeks, the stock has been trading in a range of ₹154-₹125, forming an inverse head and shoulders pattern—a bullish trend reversal signal. This setup suggests that the downtrend may be ending, with the potential for a strong upward move.
2. Aurobindo Pharma – Potential Upside: 21%
• Buy at: ₹1,200
• Stop Loss: ₹1,070
• Target Price: ₹1,390-1,450
Aurobindo Pharma has been a top gainer in the 2024 bull run. The stock has recently bounced from its lows and is now breaking out of a falling channel, signaling the end of a downward trend. The price breakout from a trend reversal pattern further strengthens the bullish outlook, making it a high-potential buy for short-term gains.
3. Cipla – Potential Upside: 4%
• Buy at: ₹1,520-1,525
• Stop Loss: ₹1,500
• Target Price: ₹1,575
Cipla has broken out of a double bottom pattern on the daily chart, a strong bullish signal. The breakout, supported by rising volumes, reflects increasing investor confidence. The 21-day EMA crossing above the 50-day EMA confirms the stock’s upward momentum, while a rising RSI further supports the bullish trend.
4. Hikal – Potential Upside: 7%
• Buy at: ₹410-412
• Stop Loss: ₹398
• Target Price: ₹440
Hikal Ltd has confirmed a breakout from a rounding bottom pattern, a bullish technical formation. The breakout, accompanied by high trading volumes, indicates strong buying interest. The stock is trading near recent highs, with both Fast and Slow EMAs trending upwards. A rising RSI further strengthens the case for continued price appreciation.
