Top 10 Diwali Stocks: Phillip Capital Picks BEL, HDFC Life Among Many
Here’s a list of 10 stocks to buy during Diwali as per the recommendations made by Phillip Capital
Here’s a list of 10 stocks to buy during Diwali as per the recommendations made by Phillip Capital
The Indian Equity market has been grappling with significant correction, buoyed by Foreign Institutional Investor (FII) outflows and weak investor sentiments. In fact, the investors have shifted towards advanced market economies like China. The decline can further be attributed to the Israel-Gaza conflict, weak corporate earnings and uncertainty over US Presidential elections.
As Diwali is approaching, Phillip Capital has recommended a list of 10 stocks for Samvat 2081. The brokerage firm has picked ABB India, Angel One, Bharat Electronics, Computer Age Management Services (CAMS), DLF, Hindalco Industries, HDFC Life Insurance Companies, Hemisphere Properties India, Mankind Pharma and MPhasis.
List of to 10 stocks
ABB India
ABB India is expected to break its narrow price range, which indicates a positive upward trend. Philip Capital says that the support for ABB India shares is around ₹7,000. The bias above this price range remains ‘range to up’.
The brokerage firm recommends delivery buy on dips for the stock towards supports of ₹8,000 and ₹7,000. It said that company’s shares sustaining above ₹9,200 can attempt higher ₹11,250 levels.
Angel One
Decline in trendline breakout of Angel One shares gave a breakout of “time & price” consolidation. The bias in mid-term remains above ₹2,250 at “accumulate” with an interim at around ₹4,000 and breakout potential target of ₹4,900. The silver line is at around ₹2,750, above which hold a “range to up” outlook on all different time-frames, Phillip Capital said.
Bharat Electronics
The stock is in a consolidation mode, meaning that it is trading within a narrow price range. Post this, the stock should resume its up-move. The major mid-term support cum “delivery buy levels” are at ₹240 and ₹200 levels. The brokerage firm suggests “accumulate” on dips for the next 6 to 12 months.
Computer Age Management Services (CAMS)
As per a pattern study, CAMS shares hold a “range to up” outlook above ₹3,350. The brokerage firm recommends that CAMS stock is buy-on-dip with major support levels at around ₹4,000 and ₹3,500 and resistance levels at ₹5,400 and ₹6,500 levels.
DLF
DLF shares are witnessing a consolidation phase within the ongoing major impulsive trend. With a “buy-on-dip” outlook, the immediate support is at around ₹780 and major support at ₹660.
Hindalco Industries
Currently, Hindalco shares are in an uptrend with an “accumulate” outlook on dips. Technically speaking, in the next 6-12 months, stock can be considered for “proportionate” buying on dips for the positional higher-end target for the counter at ₹920+ levels
HDFC Life Insurance Companies
These shares are about to witness a major consolidation breakout. It can attempt ₹820 and major ₹950 levels in the coming months.
Hemisphere Properties India
Shares of Hemisphere Properties India are in consolidation phase with an “accumulate” outlook. Support in mid-term is at ₹160 while the stock is at 120 levels on the lower end.
Mankind Pharma
The mid-term support for the counter is at around ₹2,200 while a lower major support is at ₹1,900. Phillip Capital has recommended stock for this Diwali based on strong fundamentals.
MPhasis
Holding a “buy-on-dip” outlook above ₹2,600 levels, the stock has a lot of potential for the investors, said the brokerage firm.
