Exide, India Cement: 5 mid, smallcaps that look attractive post Budget 2022

Stocks like Godrej Property can surge 15 per cent, where as Navin Fluoro can easily jump another 10 per cent provided it consecutively closes above Rs 4250

The Budget 2022 reaffirms government's push towards future economic growth by proposing an aggressive capex spend for the next fiscal. Analysts and market experts are mostly optimistic on the recovery path set in the backdrop of the covid-19 destruction.

Meanwhile, among individual shares one can focus on the following stocks basis on the existing trend on the charts.

Exide Industries Limited (EXIDEIND)

Likely target: Rs 185 and Rs 190

Upside potential:  5.50% to 8.50%

The breakout of the “Inverse Head and Shoulder” has seen a resistance above the 200-day moving average (DMA). The inability to add the follow-up buying resulted in stock price retracing the near term support level of Rs 170. As long as this support is protected, the reversal may see a jump towards Rs 185 and Rs 190 levels. The 200-DMA stands at Rs 177.40 level.  CLICK HERE FOR THE CHART

Godrej Properties Ltd (GODREJPROP)

Likely target: Rs 2,000

Upside potential: 15%

While the stock price hovers around the 200-DMA, currently placed at Rs 1,748 level, the up move from  the oversold territory of the Relative Strength Index (RSI) reflects a positive bias. Going forward, a robust move above the 200-DMA or a successful close above the same could see a breakout in the direction of Rs 2,000 level. CLICK HERE FOR THE CHART

 

India Cements Ltd (INDIACEM)

Likely target: Rs 250

Upside potential: 8.50%

The shares of India Cements are successfully trading with “Higher high, Higher Low” formation, as per the weekly chart. This uptrend continues to attract buying and accumulation at the lower levels. One can also view this formation as “Rising channel pattern”. The next up move could see a jump of Rs 250 as long as the support of Rs 215 is firmly held. CLICK HERE FOR THE CHART

 

Can Fin Homes Ltd (CANFINHOME)

Likely target: Rs 720

Upside potential: 9%

A textbook breakout of the “Inverse Head and Shoulder” pattern indicates a bullish rally ahead. The immediate hurdle comes at Rs 680, which seems to get surpassed with ease this time around, as the volumes are increasing amid robust outlook, as per the daily chart. The support is positioned at Rs 620 level and the overall trend seems headede toward Rs 720 level.  CLICK HERE FOR THE CHART

 

Navin Fluorine International Limited (NAVINFLUOR)

Likely target: Rs 4,500 and Rs  4,700

Upside potential: 6% to 10.50%

The shares of Navin Fluorine International Limited are struggling to conquer the resistance of Rs 4,250 level, according to the weekly chart. A consecutive close above the same mark should provide a breakout leading in the direction of Rs 4,500 and Rs 4,700 levels. The medium-term trend is well-protected above Rs 3,200 levels. The accumulation range comes between Rs 4,000 to Rs 3,800 levels. CLICK HERE FOR THE CHART