LT, Siemens, UltraTech: 5 infra-related stocks to bet on post Budget

Infra related stocks can easily see a jump of 10 per cent in quick time

The Finance Minister Nirmala Sitharaman in her Budget proposals has laid a clear framework for future growth, especially for the infra sector. She proposed a capital expenditure of Rs 7,50 lakh crore, a significant addition of 35 per cent compared to the previous Budget. The record GST collection in Jan 2022 also re-affirms the growth trajectory for the economy and industry.

Larsen & Toubro Ltd (LT)
Likely target: Rs 2,050 and Rs 2,150
Upside potential:  5% to 10%

Lately, the shares of Larsen & Toubro Ltd experienced a correction of over 10 per cent, which has seen a support at Rs 1,850 level. Now, the very immediate candles reflect a “Double Bottom” breakout above Rs 1,960. The Relative Strength Index (RSI) is intended to form a positive crossover indicating a bullish bias, as per the daily chart. The current sentiment is suggesting an upside in the direction of Rs 2,050 and thereafter towards Rs 2,150 level.  CLICK HERE FOR THE CHART

 
UltraTech Cement Ltd (ULTRACEMCO)
Likely target: Rs 8,000 and Rs 8,200 (above the close of Rs 7,500)
Upside potential:  6.50 to 9.50

The overall chart structure exhibits an accumulation support at Rs 7,000-level. And as long as this major level is defended on a closing basis, the bullish bias could easily regain momentum. On the higher side, a secured closing above the Rs 7.500 level would mean that the stock is on the course to achieve the Rs 8000 and Rs 8,200 levels. CLICK HERE FOR THE CHART

Oberoi Realty Ltd (OBEROIRLTY)
Likely target:  Rs 1000 and Rs 1,050
Upside potential:   5% to 10%

The shares of Oberoi Realty have received major support at the 100-day moving average (DMA), which it has been defending since last May 2021. It did fell below this mark, but could not add follow-up selling and sharply reversed regaining the lost strength. The 100-DMA is currently placed at Rs 895 level. At present, the immediate resistance is set to Rs 1,000 level followed by Rs 1,050 levels. CLICK HERE FOR THE CHART
 
Adani Ports and Special Economic Zone Ltd (ADANIPORTS)
Likely target: Rs 800
Upside potential: 7%

The stock trades within the consolidation range of Rs 800 and Rs 680 levels. The present momentum suggests a positive bias above the crucial support of Rs 700. If this move delivers a strong close today, then an upside towards Rs 800 cannot be ruled out. CLICK HERE FOR THE CHART

 
Siemens Ltd (SIEMENS)
Likely target: Rs 2,700
Upside potential: 10%

A weekly close above Rs 2,450 may significantly result in an upside breakout that could easily see over 10 per cent jump. This resistance was repeatedly attempted in the last three months with aggressive efforts. This much- awaited move could spark a strong bullish momentum, according to the weekly chart. The immediate support comes to Rs 2,270 levels.  CLICK HERE FOR THE CHART