Largecap stocks, also commonly known as blue-chip stocks, for these are well-established companies, with steady earnings and market leadership positions in their respective industries.
As per the market regulator, the Securities and Exchange Board of India (SEBI) the top 100 listed companies on the stock exchanges, with a market capitalisation in excess of ₹20,000 crore are considered as largecap stocks.
In terms of stock market trading, the largecap stocks tend to be less volatile when compared to midcap or smallcap stocks.
Here are 5 largecap stock ideas that can potentially generate up to 18 per cent returns in the short-to-medium term.
Adani Total Gas Limited (ATGL)
Current Price: ₹711
Upside Potential: 15.3%
Support: ₹709; ₹685
Resistance: ₹774
ATGL stock is seen trading above its 200-Day Moving Average (200-DMA) for the third straight trading session, after a gap of almost 10 months. Technical chart shows presence of near support at ₹709 levels; below which the 200-DMA at ₹685 should act as a formidable support. On the upside, the stock can rally to ₹820 levels, with interim resistance likely around ₹774.
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LTIMindtree
Current Price: ₹5,340
Upside Potential: 14.2%
Support: ₹5,140; ₹5,035
Resistance: ₹5,540; ₹5,850; ₹5,950
LTIMindtree recently gave a breakout on the weekly scale. The short-term bias for the stock is likely to remain favourable as long as the stock holds above ₹5,140 levels; below which significant support for the stock exists around ₹5,035 levels. On the upside, the stock can rally to ₹6,100 levels, with interim resistance likely around ₹5,540, ₹5,850 and ₹5,950 levels.
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RECL
Current Price: ₹425
Upside Potential: 15.3%
Support: ₹408
Resistance: ₹447; ₹460
RECL stock gave a fresh breakout on the daily scale on June 9. That apart, the stock has consistently found support around its 100-Week Moving Average (100-WMA), which now stands at ₹408. On the upside, the stock can potentially attempt a rally towards ₹490 levels, with intermediate resistance likely around ₹447 and ₹460 levels.
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Jindal Stainless (JSL)
Current Price: ₹726
Upside Potential: 17.1%
Support: ₹720; ₹680
Resistance: ₹765; ₹800
JSL is likely to trade on an upbeat note as long as the stock holds above ₹720; below which notable support for the stock exists around ₹680. On the upside, the stock can potentially surge to ₹850 levels, with interim resistance likely around ₹765 and ₹800 levels.
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CRISIL
Current Price: ₹5,674
Upside Potential: 18.1%
Support: ₹5,500; ₹5,350
Resistance: ₹6,100; ₹6,360
CRISIL is likely to trade on a bullish note as long as the stock trades above ₹5,500 levels; below which support for the stock can be anticipated around ₹5,350 levels. On the upside, the stock may soar to ₹6,700 levels, with interim resistance seen at ₹6,100 and ₹6,360 levels.
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