Top 3 Stock Picks for the next week (11-15 January 2021)
Top 3 Nifty 50 Stock Picks for the next week
Stock Picks for the Next week: We have done an analysis of all Nifty 50 stocks and concluded that below mentioned three stocks would be the best stock picks for the coming week.
First Stock Pick- Maruti Suzuki CMP – Rs 8014.9 dated 8th Jan 2021
Our first stock picks for the next week is Maruti Suzuki, a Nifty50 stock from the Auto sector. The Share Price of Maruti Suzuki closed at Rs 8014.9 as of 8th January 2021. It has touched a 52-week high at Rs 8060 and a low at Rs 4001.1. On a weekly basis, Maruti Suzuki’s share price gained 4.21%.
As per RSI analysis, Maruti Suzuki is technically strong. The MACD line is 103.64 and the Signal Line is 84.13, as per the MACD analysis the stock is positive. A bullish crossover just happened in the Maruti Suzuki and it’s a positive signal. According to exponential moving average analysis, Maruti Suzuki is in a strong uptrend, it has a major support level at Rs 7601.
Our Suggestion: One can buy the stock with a stop loss of Rs 7890 for the target of Rs 8170 – 8350 -8520 for the next week. One can also hold the stock for the long term target of Rs 8700 with a stop loss of Rs 7600.
Second Stock Pick-Mahindra & Mahindra (M&M) CMP- Rs 770.5 dated 8th Jan 2021
Our second stock picks for the next week is also from the Auto Sector. We recommend buying Mahindra & Mahindra for the next week. The share price of Mahindra and Mahindra closed at Rs 770.5 on 8th January 2021. It has touched a 52-week high at Rs 772.8 and a low at Rs 245.4. On a weekly basis, it has gained 5.19%.
The RSI of M&M is technically strong. The MACD line is 12.6 and the Signal Line is at 8.32, this indicates the M&M is technically strong. According to exponential moving average analysis, M&M stock is in a strong uptrend. It is trading above all levels. It has a major support level at Rs 729-701.
Our Suggestion: One can buy the stock with a stop loss of Rs 729 for the target of Rs 790 – 808 – 824 for next week. One can also hold the stock for a medium-term target of Rs870 with a stop loss of Rs 729.
Third Stock Pick- IndusInd Bank- CMP Rs 939.80 dated 8th Jan 2021
Our third stock picks for the week is from the banking sector, IndusInd Bank. The share price of IndusInd Bank closed at Rs 939.80 on 8th January 2021. It has touched a 52-week high at Rs 1585 and a low of Rs 235.55. On a weekly basis, the share price of IndusInd Bank gained 4.4%
As per the RSI analysis, IndusInd bank is technically strong. According to MACD analysis, the MACD line is at 23.6 and the Signal line is at 19.48 which is positive. A bullish crossover just happened in IndusInd Bank share and it’s a positive signal. As per the exponential moving average analysis, the IndusInd Bank share price is in a strong uptrend and has a major support level at Rs 900-838
Our Suggestion– One can buy IndusInd Bank at the CMP with a stop loss of Rs 900 for the target of Rs 966-993-1010. One can also hold the share for the medium-term target of Rs 1190
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Happy Investing!!
Editor’s Desk
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