TV18 Broadcast, TTML, SJVN: 5 stocks under Rs 100 that can rally up to 50%

SJVN, Tata Teleservices (Maharashtra) and TV18 Broadcast may rise 50 per cent on resilient charts

Despite the benchmark indices portraying uneasy sentiment, a few selective stocks in two-digit are showcasing enormous buying momentum. These includes SJVN, Tata Teleservices (Maharashtra), GMR Infrastructure, Mangalore Refinery & Petrochemicals and TV18 Broadcast. 

On Tuesday, shares of SJVN and TV18 Broadcast hit a new 52- week high. While Tata Teleservices (Maharashtra), Mangalore Refinery & Petrochemicals and GMR Infrastructure succeeded to hold ground close to their monthly highs.

Here’s the technical outlook of these two-digit stocks appearing lucrative on technical charts:-

SJVN Limited (SJVN)

Likely target: Rs 95

Upside potential: 50%

The counter continues to witness growing momentum in the overbought category of the Relative Strength Index (RSI), implying robust underlying strength, as per the weekly chart. With the support of Rs 50, the overall optimistic trend is headed towards Rs 95. CLICK HERE FOR THE CHART

Tata Teleservices (Maharashtra) Limited (TTML)

Likely target: Rs 140- Rs 130

Upside potential: 50%

The stock has broken out of the “Golden Cross” casting a bullish bias for forthcoming sessions. The last time when the stock has the similar formation in mid-2020, the stock price quickly tripled. At present, the stock price is decisively holding an up move over the barrier of Rs 85, as per the daily chart. The 200-day simple moving average set at Rs 75 becomes key support when the price action deliberates to move towards Rs 140- Rs 130 levels. CLICK HERE FOR THE CHART

GMR Infrastructure Limited (GMRINFRA)

Likely target: Rs 80

Upside potential: 30%

The price action has delved on the upside post conquering the key hurdle range of Rs 50 to Rs 47, as per the monthly chart. The present trend has triggered a medium-term positive bias. The counter is experiencing bullish momentum in the overbought category of RSI, indicating aggressive buying sentiment. The reach is towards Rs 80, unless the support of Rs 50 is negated. CLICK HERE FOR THE CHART

Mangalore Refinery & Petrochemicals Ltd (MRPL)

Likely target: Rs 120

Upside potential: 29%

A “Flag Pattern” breakout post forming “Golden Cross” pattern clearly suggest a strong underlying sentiment that aims to scale higher levels in the coming sessions. The immediate support exists at Rs 87, with the price action intending to move to Rs 120, as per the daily chart. CLICK HERE FOR THE CHART

TV18 Broadcast Limited (TV18BRDCST)

Likely target: Rs 75

Upside potential: 50%

An “Inverse Head and Shoulder” pattern has spared a bullish sentiment in the stock, as per the weekly chart. The support stays at Rs 41 and Rs 35, with price action aiming to reach Rs 75. The current bias is supported with strong volumes, adding fuel to the optimistic stance.  CLICK HERE FOR THE CHART