Dilip Buildcon, IRB, Simplex Infra: Infra-related stocks can gain up to 10%

Larsen & Toubro and Engineers India need to hold above the key levels for further upside.

Shares of infra developers were seen trading with strong gains on Monday. Dilip Buildcon soared 7 per cent, Simplex Infrastructure was locked at the 5 per cent upper circuit. Whereas, other related stocks like IRB Infrastructure Developers, Larsen & Toubro and Engineers India were trading mixed.
 
Here’s the outlook for these stocks for the upcoming sessions:-
 
Dilip Buildcon Ltd (DBL)
Likely target: Rs 340

Upside potential:  10%
 
The shares of Dilip Buildcon soared another 7 per cent on Monday after skyrocketing 20 per cent last Tuesday. The stock managed to sustain above the 50-day moving average (DMA) placed at Rs 286.55 indicating further upside. The next resistance comes around the gap-down range of Rs 340-330 levels, shows the daily chart.  CLICK HERE FOR THE CHART

 
IRB Infrastructure Developers Ltd (IRB)
Likely target: Rs 285
Upside potential:  10%
 
The recent decline since mid-January to March 2022 held the support of 200-DMA, set at Rs 211.55 level. This mark now stays as the medium-term support. At present, the stock is trading above 50-DMA, its immediate support placed at Rs 248.60 level. The overall trend looks bullish with rally to be expected to Rs 285 – Rs 282, which is its gap-down range.  The Moving Average Convergence Divergence (MACD) trades firmly above the zero line indicating positive momentum, shows the daily chart. CLICK HERE FOR THE CHART

 
 
Larsen & Toubro Ltd (LT) 
Outlook: Needs to hold Rs 1,700
 
As long as shares of Larsen & Toubro hold the support of Rs 1,700 on the closing basis, the positive bias may help regain the momentum. The stock has simultaneous resistances around Rs 1,850 and Rs 1,900 levels.  The present trend remains sluggish.  However, the MACD continues to trade with bullishness above the zero line, daily chart exhibits.  CLICK HERE FOR THE CHART
 
 
Engineers India Ltd (ENGINERSIN) 
Outlook: - Needs to cross 200-DMA

The present scenario on the daily chart suggests a resistance at Rs 71.50, which is its 200-DMA. The support comes at 50-DMA placed at Rs 65.50 level. The momentum seems to be in favour of the bulls as the MACD trades firmly above the zero line.  CLICK HERE FOR THE CHART

 
 
Simplex Infrastructure Limited (SIMPLEXINF) 
Outlook: Positive bias above Rs 57
 
Simplex Infrastructure continued to freeze at the maximum level for the day. With Monday's 5 per cent upper circuit, the stock has now hit the upper circuit on the eight straight trading session. The stock has overcome the major hurdle of Rs 57 and as long as it defends this support, the positive bias is here to stay for days ahead.  The next hurdle seems to be at Rs 74-mark. CLICK HERE FOR THE CHART