ITC, Sun Pharma: 5 defensive stocks that may gain up to 25%. You own any?

Pharma stocks like Torrent Pharmaceuticals, Sun Pharmaceutical Industries, and Cipla can easily run up to 18 per cent

Over the last eight months, the Indian equity markets have plunged close to 18 per cent amid relentless sell-off by FPIs, Ukriane war, inflation fears, and commodity-led inflation. Benchmark indices, BSE Sensex and Nifty50, have breached crucial support of 200-day moving average (DMA), highlighting higher uncertainty.

While investors remain indecisive about the road ahead, the current atmosphere is prompting them to move towards safer, defensive stocks to safeguard their portfolios.

Here's a look at 5 suchdefensive stocks that can defend your portfolio:

Torrent Pharmaceuticals Ltd (TORNTPHARM)

Likely target: Rs 3,350 (after crossing Rs 2,900)

Upside potential: 15%

Even though the stock trades 11 per cent lower from its historic peak of Rs 3,228.55, the price action has not seen aggressive sell-off under 200-DMA. Currently, the stock is attempting to cross the threshold of Rs 2,900, by hovering around the 200-DMA support of Rs 2,842. An aggressive close above the same should see the counter mounting towards Rs 3,350 level, hitting a new all-time high. CLICK HERE FOR THE CHART

Sun Pharmaceutical Industries Ltd (SUNPHARMA) 

Likely target: Rs 920

Upside potential: 10%

The early sessions of June series saw Sun Pharmaceutical Industries breach below the 200-DMA. While the stock did see some selling pressure, the absence of any follow-up selling pushed the stock back above 200-DMA, placed at Rs 837.60. Thus, the recent lows around Rs 800 have become the immediate support and until this mark is not violated conclusively, the stock could technically see recovery towards Rs 920 levels. CLICK HERE FOR THE CHART

Cipla Ltd (CIPLA)

Likely target: Rs 1,100

Upside potential: 18%

Post hitting a consolidation breakout at Rs 1,000-mark in March 2022, the stock has retraced near the lower line of the consolidation pattern, shows the weekly chart. Support of the lower trendline comes at Rs 850 level, and as long as this mark is held, the pullback rally could see Rs 1,100 level. CLICK HERE FOR THE CHART

Varun Beverages Ltd (VBL)

Likely target: Rs 900 and 1,000

Upside potential: 20 to 25%

Varun Beverages shares have been trading over 200-DMA since November 2020, and have successfully fought the recent bloodbath in markets. The bullish bias continues to grow stronger after hitting the new all-time high of Rs 805.60, touched last month. As long as the support range of Rs Rs 700 to Rs 675 is protected, the next positive rally could see Rs 950 to 1,000 levels. CLICK HERE FOR THE CHART

ITC Ltd (ITC)

Likely target: Rs 330

Upside potential: 20%

A breakout above the immediate threshold of Rs 275 could see ITC stock gaining 25 per cent in a quick go. Now, Rs 250 becomes the immediate support and only a decisive close under the same could dismantle the upside outlook, shows the daily chart. The "Golden Cross" formation on the weekly chart signals a bull run from a medium-term perspective. CLICK HERE FOR THE CHART