Stocks to buy? HEG, Jindal Steel among 5 stocks with 18% upside potential

Technical charts suggest that HEG, Graphite India, Chennai Petro, Jindal Steel and Deepak Fertilisers can potentially rally up to 18% from here; here are the key levels to track on these 5 stocks.

HEG, Chennai Petroleum Corporation, Deepak Fertilisers and Petrochemicals Corporation, Graphite India and Jindal Steel are the 5 stocks that look strong on technical charts and can potentially rally up to 18 per cent from here.

Here's a detailed analysis on each of these 5 stocks.

 

HEG

Current Price: ₹578  Likely Target: ₹660  Upside Potential: 14.2%  Support: ₹565; ₹530  Resistance: ₹600; ₹625  HEG share has given a breakout on the daily chart. The near-term bias at the counter is likely to remain upbeat as long as the stock trades above ₹565 followed by key support placed around ₹530. On the upside, the stock can potentially zoom to ₹660 levels, with interim resistance likely around ₹600 and ₹625 levels. 

 

 

Chennai Petroleum Corporation

Current Price: ₹866  Likely Target: ₹1,020  Upside Potential: 17.8%  Support: ₹810; ₹785  Resistance: ₹900; ₹950  Chennai Petroleum stock can potentially rally to ₹1,020 levels on the upside. The stock may counter interim resistance around ₹900 and ₹950 levels. The bias at the counter is likely to be positive above ₹785, with near support visible around ₹810 levels. 

 

 

Deepak Fertilisers and Petrochemicals Corporation

Current Price: ₹1,493  Likely Target: ₹1,700  Upside Potential: 13.9%  Support: ₹1,484; ₹1,415  Resistance: ₹1,515; ₹1,585; ₹1,650  Deepak Fertilisers and Petrochemicals stock is seen consolidating above its 20-Day Moving Average (20-DMA), which stands at ₹1,484 in recent days. That apart, the key momentum oscillators for the stock seem to be favourably placed, thus hinting at a likely positive bias at the counter. 

 

  On the upside, the stock can potentially rally to ₹1,700 levels, suggests the long-term chart. Intermediate resistance for the stock can be anticipated around ₹1,515, ₹1,585 and ₹1,650 levels. The trend is likely to remain positive as long as the stock holds above ₹1,415. 

Graphite India

Current Price: ₹642  Likely Target: ₹760  Upside Potential: 18.4%  Support: ₹623; ₹600; ₹580  Resistance: ₹650; ₹670; ₹696; ₹730  Graphite India stock has soared nearly 15 per cent in the last three trading sessions. The daily chart shows that the near-term bias is likely to remain upbeat as long as the stock quotes above ₹623; below which support can be anticipated at ₹600 and ₹580 levels. 

 

  On the upside, the stock can potentially rally to ₹760 levels, if it breaks and trades consistently above ₹650. The stock may face interim resistance around ₹670, ₹696 and ₹730 levels. 

Jindal Steel

Current Price: ₹1,064  Likely Target: ₹1,200  Upside Potential: 12.8%  Support: ₹1,030; ₹1,003  Resistance: ₹1,100; ₹1,135; ₹1,160  Jindal Steel share is likely to trade on a favourable note as long as the stock sustains above ₹1,003, with interim support visible around ₹1,030 levels. On the upside, the stock can surge to ₹1,200, with intermediate resistance likely around ₹1,100, ₹1,135 and ₹1,160 levels.