Voda Idea, HDFC Bank, Britannia: Stocks that can give 30% return in 2021

Going into the year 2021, however, experts say returns may moderate in the new year. However, select stocks still offer a good upside over the next one year, charts show

The Indian markets enjoyed a stupendous rally from March lows in current year 2020, with both the benchmark indices logging their fresh lifetime highs. Going into the year 2021, however, experts say returns may moderate in the new year. 

The expectations of moderate returns are linked to the fact that the markets are currently pricing in a lot of positives as they enter 2021 at record highs. The Nifty50 and Sensex targets of some brokerages for 2021 also indicate just 5-7 per cent upside from the current levels. READ MORE

However, from a technical view point, here are a few stocks that you can bet on for the next year. From the current levels, these can rise around 30 per cent, charts show.

HDFC Bank Limited (HDFCBANK): After crossing the significant resistance in the range of Rs 1,300 to Rs 1,350 levels, the counter is set to rise towards Rs 2,000 levels from a medium-term perspective. The current levels are indicating a consolidation in the range of Rs 1,350 to Rs 1,470 levels. The underneath trend exhibits an upside bias that may trigger a strong move. One can see the sluggish move on the volume structure, yet the stock is not showing weakness rather attempting to scale higher, this scenario indeed reflects a firm strength of the counter, as per the weekly chart. The overall trend is bullish till it holds the support of Rs 1,300 levels. CLICK HERE FOR THE CHART
  
Chambal Fertilizers & Chemicals Limited (CHAMBLFERT): This counter has conquered two-year resistance range of Rs 200 to Rs 190. This indicates a positive breakout that may see an upside towards Rs 300 and Rs 320 levels. At current momentum, till the counter trades above Rs 210, the upside bias may see a gradual interest of market participants. A move above Rs 250 should see a sharp rise towards Rs 280 levels.  Furthermore, the counter is witnessing buying momentum in the overbought condition of Relative Strength Index (RSI), which signals that the stock price will likely absorb mild selling pressure. CLICK HERE FOR THE CHART
 
Britannia Industries Limited (BRITANNIA): Since 2018, this counter has failed to cross the resistance of Rs 3,500 to Rs 3,300, decisively. As it does that now, the upside is opened in the uncharted territory of Rs 4,000 and Rs 4,500 levels, as per the monthly chart. The counter has held the support of 50-monthly moving average (MMA), which is constantly upholding the upward bias, currently placed at Rs 2,664 levels. The closing basis support comes at Rs 3,200 levels. CLICK HERE FOR THE CHART
  
HCL Technologies Limited (HCLTECH):  The last couple of months have a seen sharp upside with “higher high, higher low” formation. This move is further seen strengthening after the counter successfully managed to conquer Rs 900 levels. This scenario clearly depicts an upward breakout moving towards Rs 1,250 levels from a medium-term scale, as per the weekly chart. The stock is not showing any weakness in the overbought condition of RSI, inducing more confidence. CLICK HERE FOR THE CHART
 
Vodafone Idea Limited (IDEA):  A risky bet, but seems worthy in terms of the upside this counter may see in the coming days. This counter is attempting to cross the earlier breakdown level of Rs 10 with the support of the 50-weekly moving average (WMA), currently placed at Rs 7.60 levels. The big up move may emerge above the resistance of Rs 14 mark, if that happens the next leg of the rally can take this counter to Rs 26 level, which is its 200-WMA. CLICK HERE FOR THE CHART