Top stocks to buy: SKM Egg, Venky's - Check what expert says about levels, triggers – All share details here

Stocks to Buy - SKM Egg Products and Venky's (India) Limited – These are the two stocks one must watch out for. Want to know the prospects of this stock and what are the triggers to support them? From top indicators, target price to entering levels...here is all that you would be interested in. 

Stocks to Buy - SKM Egg Products - Technical Analyst Nilesh Jain, who is Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking calls SKM Egg Products Export (India) Limited a good stock adding that the existing set up on the charts also looks good. 

This stock has been making higher tops and higher bottoms. He puts the target price of Rs 120 and Rs 140 with a view of 1 month and 3 months, respectively. He said that this stock is a fast mover and there is an upside of at least 25 per cent from the current levels.

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The 52-week high for this stock is Rs 99.30 which it attained on 23 June 2021. The 52-week low is Rs 32.15 on 16 June 2020. The shares of SKM Egg Products Export (India) Limited on Tues ended at Rs 94.15, gaining 8.5 per cent on the NSE. However, there was some weakness in this stock on Wednesday. They were down almost 1.2 per cent and were trading at Rs 93.50 on NSE at 10:45 am. 

Stocks to Buy – Venky's (India) Limited – This stock was trading at Rs 3481.15 on the NSE on Wednesday and was down by almost 0.75 per cent around this time. On Tuesday, this stock ended positively.

Jain said that this stock has already had a good run, though it is a good stock and is poised to go up from here. It still must see a breakout and there is a strong at RS 3600. Once this level is breached, the upside will open with a target price of Rs 4000. This is with a 1-month view, he added.

He said that there is a strong support at Rs 3350. The 52-week high for Venky's is Rs 3955 which it achieved on 23 June 2021.

Top Triggers - SKM Egg Products shares and Venky's (India) Limited

One of the major triggers is the bilateral trade with Maldives. The Modi Government has issued an official notification according to which necessary commodities will be sent to Maldives over the next three years. Zee Business has this detailed report.

The government has made some relaxations with regards to the export of some items including eggs, sugar and rise. These items will be exported to Maldives. It is being said that the exports will be without any duty or negligible duty. 

This is a positive news for companies like SKM Egg Products and Venky’s, Zee Business Managing Editor Anil Singhvi said.