Bata, Pfizer: These MNCs have up to 12% upside despite sanctions on Russia

Pfizer is near its long-term support, which it has defended for the last five years. A rebound can trigger a 10 per cent upside for the stock.

As Russia invades Ukraine in a fierce battle on the ground, the West - the US and the UK, have imposed heavy economic sanctions, while commodities prices have shot to multi-year highs. 

Brent Crude futures zoomed past the $121-level on fears of supply disruption, the highest levels since 2014. Other commodities like Gold and Aluminium too appear to be headed north.

The impositions of sanctions have instilled a dent in the Russian financial system, as it out now from the SWIFT payment structure. This is likely to have an adverse impact on its trades globally. The measures could cut Russia off from foreign trade and cripple the world's 11^th largest economy.

Here’s the outlook for MNC stocks, which are likely to see an impact owing to the ongoing geopolitical crisis:-

Mphasis Ltd (MPHASIS)
Likely target: Rs 3,500 and Rs 3,650
Upside potential: 8% to 12%

Shares of Mphasis broke out of the resistance of the 50-day moving average (DMA) determinedly. The 50-DMA is placed at Rs 3,138 level. The daily chart stock shows taking support on the Moving Average Convergence Divergence (MACD), which is conquering the zero line upwards. The trend looks firm with momentum supporting the long bias, and seems to be headed towards Rs 3,500 and Rs 3,650 levels, its next immediate hurdles. CLICK HERE FOR THE CHART

 
Abbott India Ltd (ABBOTINDIA)
Outlook: Needs to defend Rs 17,000

As of now, the chart setup shows some selling pressure in the range of Rs 18,000 to Rs 17,500 level. However, the trend is quite positive as the stock has managed to hold-on in this range, even when the benchmark indices took a major plunge. The present scenario exhibits a bullish outlook that needs to defend the support of Rs 17,000 level, majorly on a closing basis. If that happens and the stock can conquer the Rs 18,000 mark, one cannot rule out a jump to Rs 19,000.  CLICK HERE FOR THE CHART

 
Cummins India Ltd (CUMMINSIND)
Outlook: A new all-time high upon breakout

A formation of “Symmetrical triangle” can be seen on the daily chart of Cummins India Ltd. This stock needs to close firmly above Rs 980 with robust volumes. If that happens, the possible upside could hit a new all-time high crossing previous level of Rs 1,063.40. CLICK HERE FOR THE CHART
 
Pfizer Ltd (PFIZER)
Likely target: Rs 4,800
Upside potential: 10%

The shares of Pfizer traded near the most crucial support of the 200-weekly moving average (WMA), currently placed at Rs 3,985 level. That said, the moving average has been defended very well since 2017, a period of almost five years. The stock fell underneath the same average, but quickly reversed with strong optimism and that has been happening since late 2009. The current scenario could result in a bounce that may reach Rs 4,800. CLICK HERE FOR THE CHART

 
Bata India Ltd (BATAINDIA)
Outlook: Support range Rs 1,800 to Rs 1,750

The range of Rs 1,800 to Rs 1,750 remains the accumulation range for the stock, as seen on the daily chart. And as long as this range is protected, a bounce back can be expected. The next obstacle remains at Rs 1,950. CLICK HERE FOR THE CHART