TV18 Broadcast, SJVN: Two-digit stocks that can jump 20% in next two months

The S&P BSE SENSEX and Nifty 50 opened with a firm gap up and hit a new all-time high on June 15, 2021. Over the last few weeks, the positive sentiment has not only lifted the frontline indices, but the mid-and small-cap indexes as well. Thus far in fiscal 2021-22 (FY22), the mid-, small-cap indexes have outperformed by rallying 14 per cent and 22 per cent on the BSE as compared to around 6 per cent rise in the S&P BSE Sensex during this period.

Within the mid-and-smallcap universe, a number of two-digit stocks have done well. Here are trading strategies for a few such counters that look bullish on the charts and can appreciate at least 20 per cent from here on in the next two months, provided the overall market momentum stays strong.

NBCC (India) Limited (NBCC)

Likely target: Rs 65 and Rs 73

Upside potential: 12% and 25%

The horizontal breakout above the hurdle of Rs 55 has opened the doors for an upside towards Rs 65 and then Rs 73 levels, according to the weekly chart. The Relative Strength Index (RSI) is seeing buying momentum in the overbought category, signalling an upside bias for the upcoming sessions. The volume scenario, too, looks good, indicating a high level of interest of the market participants. Support on a closing basis stays at Rs 55 and Rs 52 levels. CLICK HERE FOR THE CHART

 

Future Consumer Limited (FCONSUMER)

Likely target: Rs 14.30 –Rs 13.60

Upside potential: 25% - 30%

With a clear breakout above 50-weekly moving average (WMA) and conquering the hurdle of Rs 9.50, the stock is set to climb higher in days ahead. The overall trend suggests that Future Consumer is heading towards the gap down range of Rs 14.30 –Rs 13.60 levels. The volume picutre, too, is encouraging with the weekly volume being at the highest level in the last five years. The immediate support comes in at Rs 8 levels.  CLICK HERE FOR THE CHART

 

TV18 Broadcast Limited (TV18BRDCST)

Likely target: Rs 52 and Rs 58

Upside potential: 15% and 27%

A definitive breakout of “Inverse Head and Shoulder” pattern indicates a bullish sentiment from a medium-term scale, according to the daily chart. This up move has been supported by increased volume, which is reflective of the interest of market participants in this counter, which is trading above 200-WMA and heading towards Rs 52 and then Rs 58 levels. The support comes in at Rs 40 levels.  CLICK HERE FOR THE CHART

 

SJVN Limited (SJVN)

Likely target: Rs 34 and Rs 36

Upside potential: 15% and 21%

The counter is attempting to conquer the hurdle of Rs 31. If successful, it can result in an upward breakout as SJVN is witnessing a positive crossover of 100-WMA with 50-WMA on the charts. The up move is gradually gaining momentum with increased volumes - a positive sign. The overall trend suggests that the counter is heading towards Rs 34 and then Rs 36 levels. There is support at Rs 26 levels.  CLICK HERE FOR THE CHART

 

Rail Vikas Nigam Limited (RVNL)

Likely target: Rs 37 and Rs 41

Upside potential: 10% and 20%

Rail Vikas Nigam has managed to cross the hurdle of Rs 33 mark decisively. A close above Rs 33 indicates a positive trend ahead, which was supported by strong volume on June 14, 2021. Going forward, until the counter is holds above the support of Rs 31, the upside breakout may see Rs 35.50, Rs 37 and then Rs 41 levels, according to the daily chart. CLICK HERE FOR THE CHART