These stocks have doubled your money so far in 2021. Is more steam left?

Adani Gas, HEG, and Hindustan Copper are expected to rally up to 20 per cent upon surpassing their resistance levels

Equity markets have so far had a turbulent year with indices oscillating between gains and losses. On a year-to-date basis, the benchmark S&P BSE Sensex has advanced merely 2 per cent while the Nifty50 index has added 4.6 per cent. Buying in the broader markets has been relatively better with the S&P BSE500 index climbing around 8 per cent during the period.

Individually though, certain stocks have outperformed the indices by a huge margin on the back of positive news flow. Adani Total Gas, for instance, has soared 207 per cent YTD. It recently became the fourth Adani Group company to enter the elite club of Rs 1 trillion market capitalisation after posting a stellar December quarter (Q3FY21) earnings show. During the said period, it saw the highest-ever financial performance with robust physical infrastructure growth despite the ongoing Covid-19 pandemic.

That apart, stocks of Hindustan Copper, HEG, and Adani Enterprises have zoomed between 142 per cent and 153 per cent.

"Investors are becoming selective and off-late have been investing in stocks of companies where they see growth opportunity. While at the broader level the indices may remain volatile, there will be investment-worthy opportunities across the markets, especially the broader markets," A K Prabhakar, head of research at IDBI Capital told Business Standard.

Given this, should investors stay invested in these multi-baggers? Here's what charts say:

Adani Total Gas Ltd (ATGL)

Likely target: Rs 1,500 - Rs 1,580

Upside potential: 15.38% - 21.54%

The stock has managed to cross the bearish range of Rs 1,200 to Rs 1,250, as per the weekly chart. Further, as long as it holds the closing basis support of Rs 1,000-mark, the upside bias may rally towards the uncharted territory of Rs 1,500 to Rs 1,580 levels, as per the weekly chart. The Relative Strength Index (RSI) is continuously witnessing buying momentum in the overbought category suggesting underlying positive sentiment. CLICK HERE FOR THE CHART

Hindustan Copper Limited (HINDCOPPER)

Likely target: Rs 185 and Rs 195 (upon closing above Rs 160)

Upside potential: 15% - 20%

The stock is currently attempting to cross the resistance of Rs 160 on the closing basis, as per the weekly chart. The RSI is also showing mild weakness; yet it has, so far, managed to trade positively even in the overbought category. Only upon a firm close above Rs 160, the stock may breakout towards Rs 185 and Rs 195-mark. The support comes at Rs 140 levels, as per the weekly chart. CLICK HERE FOR THE CHART
 
 HEG Limited (HEG)

Likely target: Rs 2,700 (after crossing Rs 2,400)

Upside potential: 12.50%

The stock of the carbon and graphite maker has seen profit booking in the overbought category of RSI. This created a resistance zone around Rs 2,400-mark. Thus, the next breakout will be seen once the stock closes above Rs 2,400. When that happens, the counter may see a push towards Rs 2,700 levels, as per the daily chart. The medium-term outlook is bullish as long it trades above Rs 2,000 levels. CLICK HERE FOR THE CHART
 
Adani Enterprises Ltd (ADANIENT)

Likely target: Rs 1,350 - Rs 1,400

Upside potential: 5.88% - 9.80%

This Adani Group crown jewel has managed to cross the resistance of Rs 1,250 but needs to sustain the upside momentum to strengthen the bias. A decisive close may see a rally towards Rs 1,350 and Rs 1,400 levels. The immediate support comes at Rs 1,200 levels. CLICK HERE FOR THE CHART
 
Graphite India Limited (GRAPHITE)

Likely target: Rs 850

Upside potential: 11.85%

The stock has managed to cross the resistance of Rs 750 and continues to rally in the uncharted territory. This move is supported by RSI, which is witnessing buying momentum even in the overbought category, with the price action not exhibiting any weakness, as per the weekly chart. The overall trend is heading towards Rs 850 with a closing basis support staying at Rs 700-mark. CLICK HERE FOR THE CHART
 
IIFL Finance Limited(IIFL)

Likely target: Rs 320 (only above a firm close of Rs 280)

Upside potential: 14%

The stock is currently witnessing profit booking below the resistance of Rs 280, as per the weekly chart. Only a strong close above Rs 280 may result in a breakout towards Rs 320 mark. The support comes at Rs 240 levels, which needs support of a decisive close. The RSI has fallen below the overbought category but needs to make a positive crossover, as per the weekly chart. CLICK HERE FOR THE CHART
 
Alkyl Amines Chemicals Limited (ALKYLAMINE)

Likely target: Rs 9,200 (only above a decisive close of Rs 8,500)

Upside potential: 7%

The next breakout is above a firm weekly close of Rs 8,500 levels. Until then, the counter may see sideways movement, daily chart suggests. Going ahead, only a decisive breach of the support level on the downside, placed at Rs 8,000-mark, may lead to selling pressure. The breakout above Rs 8,500 may see a rally towards Rs 9,200 levels. CLICK HERE FOR THE CHART