Planning to reshuffle your portfolio? These 5 stocks may pump up gains

ITC, Varun Beverages, TVS Motor Company, Coromandel International and Hindustan Aeronautics can rally up to 25 per cent, technical charts suggest

Global equity markets have been in turmoil lately, with major US indices plunging as much as 20 per cent from their historic highs. Similarly, Indian equities, too, have witnessed relentless selling pressure with the benchmark indices 16 per cent lower from October 2021 peaks.

While several stocks seem to have entered a bear phase, select stocks continue to buck the trend, offering opportunities for a portfolio reshuffle.

Technically, shares trading at higher territories, i.e. either closer to 52-week highs or all-time highs, suggest that the stocks have witnessed little or no impact of the overall bearishness. 

Five such stocks, including TVS Motor, ITC, and HAL appear as best candidates for portfolio re-shuffling. 

Shares of TVS Motor Company, for instance, surged 4 per cent on Friday, and are within striking limit of crossing their all-time. Similarly, Hindustan Aeronautics and Varun Beverages recorded new highs last week, and gained close to 2 per cent in trades today.

ITC and Coromandel International are also trading fairly closer to their respective all-time levels.

Going ahead, here's how these stocks are likely to perform based on the technical charts analysis:

ITC Ltd (ITC)

Likely target: Rs 330

Upside potential: 25%

ITC stock has seen accumulation in the range of Rs 250 to Rs 240 in May and April 2022. Thus, as long as this range is protected, the upwards bias could see Rs 330 level, shows the weekly chart. There is a "Golden Cross" formation on the weekly chart, which signals a steady bull run ahead. CLICK HERE FOR THE CHART

Varun Beverages Ltd (VBL)

Likely target: Rs 900

Upside potential: 17%

The "Higher High, Higher Low" formation continues to scale newer highs, showing resilience to the current selling pressure, as per the weekly chart. On a broader perspective, as long as the stock defends the breakout support range of Rs 700 to Rs 675, the upside bias could see Rs 900 level. The underneath trend remains strong and in favour of the bulls. CLICK HERE FOR THE CHART

TVS Motor Company Ltd (TVSMOTOR)

Likely target: Rs 950

Upside potential: 19%

Shares of TVS Motor Company have conquered the obstacle at Rs 770 with adequate volumes. The Relative Strength Index (RSI) did see some profit booking in the overbought territory lately, but now, the stock has formed divergence and price is scaling highs robustly, shows the weekly chart. The bullish trend is aiming at Rs 950 with the current strength. CLICK HERE FOR THE CHART

Coromandel International Ltd (COROMANDEL)

Likely target: Rs 1150

Upside potential: 16%

Post breaking out of the previous all-time high of Rs 907.15, the stock is witnessing selling in the range of Rs 985 to Rs 950 levels. Likewise, the stock continues to see buying momentum around Rs 900 to Rs 975 levels, shows the weekly chart. So, breakout above Rs 980 could trigger fresh upside towards Rs 1,150 level. CLICK HERE FOR THE CHART

Hindustan Aeronautics Ltd (HAL)

Likely target: Rs 2,100

Upside potential: 18%

The shares of Hindustan Aeronautics have been holding the 200-day moving average (DMA) support, placed at Rs 1,455 level, since November 2021. On the price action theory, as long as the stock holds Rs 1,700 aggressively, the upside rally could see Rs 2,100 level. CLICK HERE FOR THE CHART