Dixon Tech, Adani Green: How to trade multi-baggers of FY21 in new fiscal

Hindustan Copper, Aarti Drugs, Dixon Technology, APL Apollo Tubes, Laurus Labs and Affle India, meanwhile, zoomed over 400 per cent during FY21

Mid and small-cap stocks ruled the bourses during the recently concluded financial year of 2020-21 with the indices clocking gains of 91 per cent and 115 per cent, respectively on the BSE. 

As many as 228 stocks from the BSE500 index have seen their market value more-than-double in FY21. Individually, Adani Total Gas, Adani Green Energy and Adani Enterprises from the Adani Group rallied in the range of 600 per cent to 1,020 per cent. Hindustan Copper, Aarti Drugs, Dixon Technology, APL Apollo Tubes, Laurus Labs and Affle India, meanwhile, zoomed over 400 per cent during the fiscal. 

And the party in the broader market space is expected to continue. “While market polarisation has increased towards large-cap indices, signifying a positive market outlook, broader markets have significant room to outperform large-cap indices, backed by outperforming earnings and growth,” analysts at Sharekhan said in a recent report.

The brokerage is factoring-in a robust net earnings CAGR of 26.7 per cent and 31.4 per cent in mid-caps and small-caps, respectively as against the overall net earnings CAGR of 22.8 per cent over FY2021-FY2023E.

Here is how these top performing stocks of FY21 look on charts for the new financial year of 2021-22:

Adani Green Energy Ltd (ADANIGREEN)
Likely target: Rs 1,250 - Rs 1,300
Upside potential: 9.17% - 13.54%

This Adani Group stock is holding the support of 100-days moving average (DMA), placed at Rs 1,082 levels, for the past one year. Till this support is defended, the upside bias may see a strong move towards Rs 1,300 levels, as per the daily chart. The volumes have been sluggish in the recent sessions but may see a revival after the breakout above Rs 1,300 mark.  CLICK HERE FOR THE CHART
 
Hindustan Copper Limited (HINDCOPPER)
Likely target: Rs 150 (after crossing Rs 130)
Upside potential: 15.38%

As long as this stock defends the support of 50-(DMA), placed at Rs 102 levels, the upside bias is here to stay. On the upside, the stock needs to conquer Rs 130-mark aggressively to trigger the next leg of rally. Once that happens, a rally towards Rs 150 cannot be ruled out. The stock has witnessed selling pressure in the overbought category of Relative Strength Index (RSI). CLICK HERE FOR THE CHART

Aarti Drugs Limited (AARIDRUGS)
Likely target: Rs 900 – Rs 950 (after breaking out above Rs 800)
Upside potential: 12.50 % - 18.75%

This pharma stock has a support placed at Rs 600 levels. On the higher side, it needs to cross the resistance of Rs 800 levels to trigger a breakout rally in the direction of Rs 900 and Rs 950 mark. The recent reversal nearing the support of Rs 600 suggests accumulation, as per the weekly chart. CLICK HERE FOR THE CHART

Dixon Technologies (India) Limited (DIXON)
Likely target: Rs 4,000
Upside potential: 9.71%

After witnessing a stupendous rally above the breakout level of Rs 3,200 levels, the stock is witnessing a mild correction at current momentum. However, as long as the stock upholds the support of Rs 3,200 levels, a sharp recovery towards Rs 4,000 is likely, as per the daily chart. CLICK HERE FOR THE CHART

APL Apollo Tubes Limited (APLAPOLLO)
Likely target: Rs 1,600
Upside potential: 19.23%

The stock is trading above the support of 50-DMA, currently placed at Rs 1,096 levels. The overall sentiment towards the stock is highly bullish as the negative divergence of RSI is not showing any major breakdown. The upside bias may push the stock towards Rs 1,600 levels. CLICK HERE FOR THE CHART
 
Laurus Labs Limited (LAURUSLABS)
Likely target: Rs 435 (after crossing Rs 385)
Upside potential: 12.99%

The stock is consolidating in the range of Rs 385 to Rs 335 levels. Only a breach of this range, on either side, may determine the stock direction. Nonetheless, the charts are indicating a possible upward breakout as the negative divergence of RSI is not showing any weakness. One can expect a rally of 50 points after a breakout on the upside. CLICK HERE FOR THE CHART
 
Affle (India) Limited(AFFLE)
Likely target: Rs 6000 - Rs 6,300
Upside potential: 3.45 % - 8.62%

The strong support of Rs 5,000 level is holding the upside bias in this stock. To fuel the upside momentum, it needs to conquer Rs 5,800 to rally towards Rs 6000 and Rs 6,300 levels, as per the daily chart. The stock may form "Head and Shoulder" pattern -- a chart formation that predicts a bullish-to-bearish trend reversal -- if it breaks the support of Rs 5000-mark. CLICK HERE FOR THE CHART