Stocks to Buy: Nifty SEPTEMBER SERIES! HUL stocks, RIL shares - Analyst bets big on two stocks for high gains - Know target price, key drivers
Stocks to Buy - Nifty September Series - On the August monthly expiry day today, two stocks that were doing well and leading the Nifty 50 were Reliance Industries Limited shares (RIL shares) and Hindustan Unilever Limited shares (HUL shares). The two stocks are top bets for Nilesh Jain of Centrum Broking
Stocks to Buy – Nifty September Series – On the August monthly expiry day today, two stocks that were doing well and leading the Nifty 50 were Reliance Industries Limited shares (RIL shares) and Hindustan Unilever Limited shares (HUL shares). The two stocks are top bets for Nilesh Jain, Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking.
The technical analyst recommends these two stocks with a positional term view and expects big gains for investors during the September series.
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Stocks to Buy – RIL shares – This stock was the top gainer on the Nifty 50 on Thursday at around 1:10 pm and was trading at Rs 2230.90, up by 1.3 per cent or almost Rs 28. Jain said that the stock looks strong on technical charts and is poised for an upward move during the September Series. He said that this stock has been a laggard and underperformed the index.
He sees a strong support at Rs 2160 which he said is the stop loss for investors holding this stock. He puts the target price Rs 2300. Any decline should be seen as a buying opportunity by buyers, he further said.
The 52-week high of this stock is Rs 2369.35 which it attained on 16 September 2020. The 52-week low for this stock is 1830 which it hit on 29 January 2021. The stock has been on a positive rally over the last four trading sessions.
Stocks to Buy – HUL shares – This was the second stock recommended by him which will likely be among the top performers during the September Series. The Hindustan Unilever stock was trading at Rs 2652.30 on the NSE around this time. It was up 0.3 per cent from the last closing price on Wednesday.
He said that this was a quality stock and is looking strong on the charts. It is currently trading near its all-time high levels, he further said. The stock hit its lifetime high of Rs 2697 today. Its 52-week low is 2000.05.
He puts the target price at Rs 2800 for the September month. It has been on a rally from levels around Rs 2350 so fresh long positions should not be taken. He recommended buy on dips. This risk-to-reward ratio will be better if the stock corrects by at least by Rs 100 from current levels, he further said.
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