Delta Corp, PVR, IDBI Bank: 5 small-cap stocks to bet this Diwali

These five small-cap stocks can rally up to 40 per cent in the medium-term, indicate charts

Samvat 2077 was extra-ordinary for the equity markets, the Smallcap index in particular out-performed the key benchmark indices with a gain of 81 per cent on the back of strong liquidity. READ MORE

Going into Samvat 2078, analysts expect stock specific activity to be a dominant factor. Here are few smallcap stocks which can see gains based on the existing chart patters:

Delta Corp Ltd (DELTACORP)
Likely target: Rs 350 and Rs 370

Upside potential:  25% to 30%

The shares of Delta Corp Ltd have conquered the significant resistance range of Rs 200 to R 230 levels, according to the weekly chart. This led to a new breakout in the month of September 2021, and hence the stock is expected to remain bullish from the medium-term perspective. At current levels, the stock is attempting to absorb all the selling pressure emerging around Rs 290- Rs 280 levels, and once that is done, the trend may see a sharp surge towards Rs 350 and Rs 370 levels. The immediate support for the stock exists around Rs 240 levels. CLICK HERE FOR THE CHART

IDBI Bank Ltd (IDBI)
Likely target: Rs 65 and Rs 75
Upside potential:  25% to 40%

The breakout of the 200-weekly moving average (WMA) at Rs 43 levels with significant volume signals a positive move that may see an upside towards Rs 65 and Rs 75, which are the next crucial hurdles. In addition, the stock has build a support base in the range of Rs 45 to Rs 47 levels, the consolidation range from a chart pattern analysis. The overall trend is very bullish with the immediate support at Rs 47 levels. CLICK HERE FOR THE CHART
 
PVR Ltd (PVR)

Likely target: Rs 2,086.75
Upside potential:  20%

The all-time high of the PVR Ltd is at Rs 2,086.75 level, and the current trend indicates that the stock seems to be headed there. The sustainability above the obstacles of Rs 1,470 and Rs 1,600 exhibit a firm underlying strength that seems to gain upward momentum on every new up move. As long as the support of Rs 1,600-mark is upheld, the positive sentiment shows accumulation on every healthy correction, as per the daily chart. CLICK HERE FOR THE CHART

BEML Ltd (BEML)
Likely target: Rs 2,000
Upside potential:  20%

The stock has conquered the major resistance range of Rs 1,550 to Rs 1,500 levels, according to the daily chart. This up move signals a breakout that may trigger a move in the direction of Rs 2,000-mark. The immediate support stays at Rs 1,500 level, which needs to be considered on the closing basis. The Relative Strength Index (RSI) continues to see bullish momentum in an overbought category signifying a positive bias for upcoming sessions.  CLICK HERE FOR THE CHART

Amber Enterprises India Ltd (AMBER)
Likely target: Rs 3,900
Upside potential:  22%

The recent weakness has seen the shares of Amber Enterprises India Ltd testing the breakout support of Rs 3,100 levels. The overall trend seems bullish as long as the support of Rs 2,650 is held decisively, according to the weekly chart. The reversal may see a sharp upside towards new historical levels of Rs 3,900. CLICK HERE FOR THE CHART