Adani Ports, ABB, NOCIL: Top 5 stocks that can rally up 15% in short-term

The broader markets have pulled back sharply, with the benchmarks Sensex and Nifty 50 now up 15 per cent each from the June lows.

Indian equities traded with strong gains so far on Friday, The BSE Sensex and Nifty 50 saw a gap-up opening up to a per cent each as the benchmark indices reclaimed the 57,000 and 17,000 levels, respectively. 

Amid the current upside, the benchmarks have gained nearly 2 per cent so far this with an overall rally of up to 11 per cent from the lows in June 2022. Earlier in June 2022, the Sensex and Nifty had registered fresh 52-week lows, as nervousness gripped market amid fears of a likely recession in US and steep rate hikes globally.
 

Going ahead, here are five stocks that look promising on charts:-

ABB India Ltd (ABB)

Likely target:  Rs 3,100

Upside potential: 12%

This stock falls into that resilent category of shares which held ground firmly over the support of 200-day moving average (DMA) when benchmark indices witnessed a major sell-off. In addition, the positive move above Rs 2,500, its crucial hurdle, boosted bulls to rally forward with a robust sentiment. The immediate target for the stock seems to be Rs 3,100 level. And support for the stock exists at Rs 2,600. CLICK HERE FOR THE CHART

Adani Ports and Special Economic Zone Ltd (ADANIPORTS)

Likely target:  Rs  840 and Rs 880

Upside potential: 9% to 15%

Post the bullish “Double Bottom” breakout in early June 2022, shares of Adani Ports and Special Economic Zone overcame the 200-DMA obstacle set at Rs 738-mark. The positive move was accompanied by the vigorous support from the Moving Average Convergence Divergence (MACD), which decisively crossed the zero line indicating bullish momentum. The next hurdle for the stock comes at Rs 840 and Rs 880 levels. CLICK HERE FOR THE CHART

Kajaria Ceramics Ltd (KAJARIACER)

Likely target:  Rs 1,300

Upside potential: 12%

Shares of Kajaria Ceramics broke out of the consolidation range of Rs 1,060 to Rs 900 levels, shows the daily chart. This move has now conquered the 200-DMA obstacle placed at Rs 1,115 and pointing at a further up move towards Rs 1,300-mark. The breakout move saw strong volumes indicating market participants’ interest in the stock.  The immediate support for the stock falls at Rs 1,100 level. CLICK HERE FOR THE CHART

PI Industries Ltd (PIIND)

Likely target:  Rs 3,600

Upside potential: 15%

PI Industries has broken out the weekly trendline resistance prevailing near Rs 2,800 level with key technical indicators supporting the move. The weekly Relative Strength Index (RSI) has crossed the hurdle of 60 value and MACD managed to climb over the zero-line, both signalling a healthy upside ahead. The stock is heading for a new historic peak of Rs 3,600-mark with support staying at Rs 2,900. CLICK HERE FOR THE CHART

NOCIL Ltd (NOCIL)

Likely target:  Rs 325

Upside potential: 12%

There is a chart formation on the weekly scale, which one could decipher as “Inverse Head and Shoulder, or symmetrical triangle or horizontal breakout. All these reflect a positive upside for the stock, which seems to aim at a new 52-week high of Rs 325. The closing basis support for the stock stays at Rs 275 level. CLICK HERE FOR THE CHART