Aarti Drugs, Balrampur: 5 stocks that can surge up to 66% in Samvat 2080

Bayer Cropscience, Granules India and HLE Glasscoat are the other three stocks that can generate healthy returns till next Diwali, based on the existing chart patterns.

The market will welcome Samvat 2080 on Sunday, Novemeber 12, with a traditional one-hour Muhurat trading session in the evening between 06:15 PM - 07:15 PM on the occasion of Diwali.

While, the overall mood remains upbeat given India's strong outperformance compared to the global peers both in terms of market performance and economic growth, experts do warn of likely volatility owing to the uncertain geopolitical developments and general elections in 2024.

Meanwhile, the Sensex and Nifty are all set to close Samvat 2079 with gains of around 10 per cent each. In the broader market, among the Nifty 500 stocks, two stocks namely FACT and Jindal Saw delivered over 500 per cent returns from last Diwali to this. Further, 12 stocks were up in the range of 200 - 330 per cent.

Watch: How will markets play out in Samvat 2080?

Going ahead into Samvat 2080, based on the present chart patterns, these five stocks can potentially deliver up to 66 per cent returns until next Diwali.

Aarti Drugs

Current Price: Rs 481

Target: Rs 630; Rs 800

Upside Potential: 31 - 66%

Resistance: Rs 575

Support: Rs 450

Aarti Drugs after a sharp correction in the preceding two calendar years seems to be picking ground since the start of this fiscal year. Over the last six months, the stock has consistently managed to sustain above its 20-MMA (Monthly Moving Average). Among the key momentum oscillators the MACD (Moving Average Convergence-Divergence) which turned positive in July, continues to remain favourable on the monthly scale.

As such, as long as the stock manages to hold the 20-MMA support around the Rs 450-odd levels, on a monthly closing basis, the stock may trade with a positive bias. On the upside, the initial target for the stock is seen at Rs 630, above which a strong rally towards Rs 800-mark also seems likely. In the interim, the stock may face some resistance around Rs 575. CLICK HERE FOR THE CHART

Balrampur Chini Mills

Current Price: Rs 435

Target: Rs 515; Rs 550

Upside Potential: 18 - 26%

Resistance: Rs 452

Support: Rs 390

Balarampur Chini has been making higher highs and lower lows on a monthly scale since last Diwali. Further, since March 2023 the stock has consistently managed to honour the support at 20-MMA, which now stands around Rs 390. On the upside, the stock has near resistance at Rs 452.

However, given the fact that the RSI and Stochastic Slow both have turned positive on the monthly scale, there seems to be a good chance that the stock may attempt to break on the upside. Further, the MACD too is seen very close to the signal line.

In case, of breakout the stock could re-test its all-time high around Rs 515 level, while the momentum could easily trigger another 8-10 per cent rally, suggesting an upside target of Rs 550. CLICK HERE FOR THE CHART

Bayer Cropscience

Current Price: Rs 5,420

Target: Rs 6,250; Rs 6,775

Upside Potential: 15 - 25%

Resistance: Rs 5,600

Bayer Cropscience has seen smart pick-up in volumes in the last few months, especially when the stock has gained. The stock is presently testing some resistance around the higher-end of the Bollinger Bands on the monthly scale near Rs 5,600-level. A breakout above the same could trigger a rally towards its peak, near about Rs 6,250.

Since, the key momentum oscillators are all favourbale, and far-away from the overbought zone. The stock may look to stretch the rally on the upside to about Rs 6,775-odd levels. CLICK HERE FOR THE CHART

Granules India

Current Price: Rs 367

Target: Rs 433; Rs 485

Upside Potential: 18 - 32%

Resistance: Rs 375

Support: Rs 310

The key momentum oscillators like the RSI, Stochastic Slow and MACD have all turned favourable for Granules India on the monthly scale, thus the stock may soon attempt to breakout from its upside trading barrier at Rs 375-odd levels.

In case of a successful breakout, the stock is likely to re-test its summit around Rs 435-odd level, with a possibility of rally extension towards Rs 485. CLICK HERE FOR THE CHART

HLE Glasscoat

Current Price: Rs 511

Target: Rs 625; Rs 730

Upside Potential: 22 - 43%

Support: Rs 470

HLE Glasscoat can be considered as a counter-bet as the stock is trading in fairly oversold zone on the monthly scale. Over the last 17 months, the stock has been trading in a range of Rs 800 - 500. Presently, the stock quotes near the lower-end of the existing trading range at Rs 511, thus suggesting a likely favourable risk-reward ratio at the current juncture.

On the downside, the stock is likely to get considerable support around Rs 470-odd levels, along the lower-end of the monthly Bollinger Bands.

On the upside, the stock may test its 20-MMA, which suggests an upside target of Rs 625. A breakout above the same can potentially trigger a rally to Rs 700. CLICK HERE FOR THE CHART