Balrampur Chini Mills, Tata Motors and ICICI Lombard have performed very well on the daily and weekly charts. Their trading volume has also seen a strong jump. Momentum indicator RSI is also giving buying signals while making a positive crossover. In such a situation, you can get a chance to earn in these three stocks.
The Indian stock market has returned to a bullish trend after the fear of recession in the US has reduced. On Friday, the Sensex rose by about 2 percent, which is its biggest gain in a day in the last two months. Rupak Dey, Senior Technical Analyst at LKP Securities, is telling about three stocks, which can help you make good money in this bullish trend.
The central government is constantly emphasizing on increasing the production of ethanol. It has also indicated a hike in prices. Companies like Balrampur Sugar Mills are expected to benefit from this. LKP Securities has advised to buy Balrampur Sugar at the current level of Rs 525. Its target price will be Rs 550 to Rs 570. At the same time, the stop loss can be kept at Rs 500.
The quarterly results and sales figures of Tata Motors were not as per the expectations of the investors. Due to this, some correction was seen in the shares of Tata Motors in the past. But, now this stock has again gained momentum. LKP Securities advises that Tata Motors can be bought at the current level of Rs 1100. It can go up to 1160. At the same time, the stop loss can be kept at Rs 1069.
There is also a good opportunity to earn in ICICI Lombard General Insurance. It has shown positive signs on the daily chart. You can buy ICICI Lombard up to Rs 2045. It can go up to Rs 2200. This means that you can get a profit of Rs 155 per share. At the same time, if we talk about stop loss, then you can keep it at Rs 1974.
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