These Tata, Birla, Ambani group stocks can make you rich. Check key levels

From a medium-term perspective, these 6 stocks should provide a good upside from the current levels. Also, these stocks can mitigate the risks in portfolio. Check out the key levels

Reliance Industries Ltd (RELIANCE): Till this counter trades above Rs 2,000, the momentum can take it towards Rs 3,000. That said, there can be intermittent corrections, which can be used to accumulate the scrip. The consolidation breakout / 'Flag Pattern' breakout has affirmed an upside that can trigger a strong recovery in any corrective move, as per the weekly chart. The Relative Strength Index (RSI) has seen the strength in the overbought condition, which facilitates in building a strong bullish sentiment from a medium-term perspective. CLICK HERE FOR THE CHART

Reliance Industrial Infrastructure Limited (RIIL): From March 2018 onwards, this counter has made a consistent effort to conquer the rock solid resistance of Rs 490 levels. The stock has seen healthy accumulation on a decline. It bounced back from its lows back in August 2018, and then again in January 2020 and July 2020. Going forward, till the stock stays above Rs 340 on the weekly closing basis, which also is its 50-weekly moving average (WMA), any rally can take it again towards Rs 490 levels. A healthy consoidtion around those levels for a few sessions can even take this past Rs 500, provided volumes stay strong.  CLICK HERE FOR THE CHART

Tata Chemicals Ltd (TATACHEM): Stability above Rs 315 level has reaffirmed the positive view again. That said, the stock did show weakness and corrected towards Rs 275 levels. A positive reversal above Rs 300 suggests that the stock is likely to move up in the days ahead. The major breakout is likely above the immediate resistance of Rs 336. When that gets conquered, Tata Chemicals may scale up to Rs 370 and then Rs 390. The formation similar to “Inverse Head and Shoulder” suggests a closing basis support of Rs 305 levels, as per the daily chart. CLICK HERE FOR THE CHART

 

Tata Elxsi Ltd (TATAELXSI): The stock has risen gradually with the support of 27-days moving average (DMA) since the last four months. This counter can be bought at the current levels for a target of Rs 1,900 levels with a support of Rs 1,315 in mind, which also is its 27-DMA. The stock price has not seen weakened despite the overbought condition of RSI during this recent upward rally, which reflects a underlying strength. CLICK HERE FOR THE CHART

 

Grasim Industries Ltd (GRASIM): With a breakout of a “Golden Cross” at Rs 735 of 50-DMA with 200-DMA, along with 100-DMA supporting the crossover with 200-DMA, the stock is set to climb higher. The trend suggests that the counter can head towards Rs 857 in the days ahead, which also is its 200-WMA. A closing basis support comes at Rs 725 levels. The RSI is far away from entering the overbought condition, currently placed at Rs 59. This provides adequate space and time for the counter to move higher in the sessions ahead. CLICK HERE FOR THE CHART

UltraTech Cement Ltd (ULTRACEMCO): The support of Rs 4,200 levels holds the key for a further upside in this counter. Till the stock holds above this support level, it can rise to Rs 4,700 and Rs 4,800 levels in the sessions ahead. The “Golden Cross” of 50-DMA, 100-DMA with 200-DMA further adds to the bullish sentiment. The volumes have remained stable during most of the recent sessions, which is another positive sign. CLICK HERE FOR THE CHART