Pidilite, Nestle: Select stks in Rahul Gandhi's portfolio can dip up to 12%

As per an affidavit filed with the Election Commission of India, Rahul Gandhi's top stock holdings include Pidilite Industries, Bajaj Finance, Nestle, ITC, Hindustan Unilever and Tube Investments.

As part of the nomination process for general elections in India, all candidates have to file their affidavits that include the candidate's criminal record; ongoing/pending criminal trials; total assets of the candidate, spouse and dependants; total investments and dues pending to the government among others.

As such, Congress candidate Rahul Gandhi, who filed his nomination papers for the upcoming Lok Sabha 2024 elections, in Wayanad district, last week disclosed investments in stocks and mutual funds. 

As per data from Election Commission of India website, Rahul Gandhi's stock portfolio is valued around Rs 4.30 crore. His top investments include - Pidilite Industries, Bajaj Finance, Nestle India, ITC, Hindustan Unilever and Tube Investments.

Rahul Gandhi's wealth reportedly grew over 28 per cent in the past five years, aided by a bull run in Indian equities.

Meanwhile, here's a short-term technical outlook on select stocks from Gandhi's portfolio for the likely road ahead.

Pidilite Industries

Current Price: Rs 3,000

Downside Risk: 5%

Support: Rs 2,930

Resistance: Rs 3,050

Pidilite Industries is likely to consolidate in the near-term as key momentum oscillators have entered overbought territory following a near 35 per cent rally in the stock price in less than 5 months. Near hurdle for the stock is seen at Rs 3,050 levels, while near support exists at Rs 2,930 in the form of 20-DMA (Daily Moving Average). In case, the 20-DMA fails to hold, the stock can slip to Rs 2,850, wherein lays a stronger support. CLICK HERE FOR THE CHART

Titan

Current Price: Rs 3,745

Downside Risk: 5.2%

Support: Rs 3,700

Resistance: Rs 3,850

Titan is seen consolidating in the broad range of Rs 3,550 - Rs 3,900 since the last three months. A breakout from this trading range could lead to a decisive move at the counter. For now, the stock has near support at Rs 3,700, below which it can dip back towards Rs 3,550 levels. Resistance on the upside is seen around Rs 3,850. CLICK HERE FOR THE CHART

Nestle 

Current Price: Rs 2,530

Downside Risk: 11.9%

Support: Rs 2.,485; Rs 2,380

Resistance: Rs 2,575; Rs 2,640

Nestle is presently seen testing support around its 100-DMA at Rs 2,525. Key momentum oscillators, both on the daily and weekly scale, are in favour of the bears. Hence, the stock may witness downward pressure in the near-term. As such, the stock can potentially dip to Rs 2,220. In the interim, support for the stock is seen around Rs 2,485 and Rs 2,380. On the higher side, resistance is placed at Rs 2,575 and Rs 2,640. CLICK HERE FOR THE CHART

Divis Lab

Current Price: Rs 3,800

Upside Potential: 4.7%

Support: Rs 3,785; Rs 3,680

Divis Lab has recently witnessed a fresh breakout on the daily charts. The stock rallied almost 13 per cent in just six trading days. In the near=term, the bias is expected to favour the bulls as long as the stock trades above Rs 3,785 levels. On the upside, the stock seems on course to test Rs 3,980. In case, the stock trades consistently below Rs 3,785, it may then seek support around Rs 3,680. CLICK HERE FOR THE CHART

Suprajit Engineering

Current Price: Rs 430

Upside Potential: 14%

Support: Rs 413; Rs 407

Resistance: Rs 435

Suprajit Engineering seems to be fairly placed on multiple time-frames, thus suggesting a favourable bias for the stock going ahead. At present, the stock is seen testing resistance around the higher-end of the anticipated trading band on the daily scale at Rs 435 levels. In case of a corrective move, the stock is expected to find support around Rs 413 and Rs 407. The overall trend suggests that the can rally towards the Rs 490 levels on the upside. CLICK HERE FOR THE CHART