Stocks to Buy – PSU Stocks ONGC, NTPC, Power Grid – Analyst remains bullish, recommends Buy for these targets on NSE

Stocks to Buy – ONGC, NTPC, Power Grid – Planning to buy PSU bank stocks? Analyst Nilesh Jain Nilesh Jain, Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking is bullish on these three stocks and said that they are poised well for an upward movement from the existing levels. He gives crucial levels to enter these stocks with stop losses and price targets.

Stocks to Buy – ONGC shares – The Oil & Natural Gas Commission shares were trading positively on Wednesday, up by almost 3.6 per cent on the NSE at around 10:45 am. Jain said that this stock is looking strong on the technical charts. The stock has hit a 52-week high today at Rs 130.70.

Jain said that an upside of Rs 150 is open in this stock and he has a positional term view on this stock. He puts the stop loss at Rs 120. The %2-week low is Rs 64.10 which the stock hit on 29 October 2020.

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Stocks to Buy – NTPC shares – Another state-run company whose stock has great potential to give high returns, this technical analyst said. The stock was trading at Rs 120.70 on the NSE around this time. The stock was up over 4 per cent from the last closing price of Tuesday.

Jain puts a short term target of Rs 130 while positional term target at Rs 140. He puts the stop loss at Rs 115.

The 52-week high of this stock is Rs 122 which the NTPC stock price attained on 20 July 2021. The 52-week low is Rs 78.10 which it hit on 14 October 2020. T  

Stocks to Buy – Power Grid share – Jain is also bullish on Power Grid Corporation of India shares. He said that this stock should be bought for price targets between Rs 186 and Rs 190. He puts the stop loss at Rs 173.

The stock was trading at Rs 177.20 on the NSE around this time. It was up 1.8 per cent from the Tuesday closing price of Power Grid shares. The 52-week high of this stock is Rs 188.63 which this stock hit on 15 July 2021.