With the finish of the decade now just days away, it is crucial that investors commence arranging their trades for the coming year if not the decade currently. While fundamentally, numerous may possibly recommend going for the manufacturing sector stocks to acquire from the PLI scheme even though some may possibly recommend owning banks for the uptick in the financial activity. However, brokerage and investigation firm ICICI Direct has taken a distinctive strategy. ICICI Direct has offered its quant picks for 2021 primarily based on Future & Options and Quantitative indicators.
Biocon
Target- Rs 580
Time Frame- 12 Months
ICICI Direct mentioned that the stock has decrease volatility and has noticed choose-up in delivery Z score, which suggests ongoing accumulation in the stock. “Biocon has continuously found support near its mean+1*sigma levels. FIIs have also shown faith in the stock and increased their stake continuously in it. Going forward, the positive bias in the stock should remain intact above its mean+1*sigma levels,” the report mentioned. Buying is recommended in the variety of Rs 445-465 per share with a quit loss of Rs 385 apiece.
Tech Mahindra
Target- Rs 1160
Time Frame- 12 Months
Delivery score for Tech Mahindra has moved up, which according to the report, suggests acquiring interest at low levels. “Among technology stocks, this is one of the few stocks where FIIs have increased their stake,” ICICI Direct mentioned. Support for the stock is placed at Rs 800 levels, above which the report mentioned that positive bias is probably to continue. Buying is recommended in the variety of Rs 900-930 with a quit loss of Rs 775.
Petronet LNG
Target- Rs 325
Time Frame- 12 Months
Petronet LNG has been seeing decrease volatility in the stock along with a sharp improve in delivery Z score, mentioned ICICI Direct, which suggests greater danger-reward at present levels. “In the recent market move, the stock was able to move above these levels and should find fresh positive momentum,” they added. Year to date, the stock is down 6%. Buying is recommended in between Rs 248-258 with a quit loss of Rs 218.
Bharat Forge
Target- Rs 690
Time Frame- 12 Months
Bharat Forge has been exhibiting powerful delivery volumes even though the stock continued to outperform — a sign of aggressive acquiring in ICICI Direct’s view. “Mean levels for Bharat Forge have acted as trend decider for the stock. It has witnessed significant directional moves after breaching these levels on either direction in the past. The recent up move above | 450 levels is likely to trigger the fresh positive bias in the stock,” the brokerage firm mentioned. Buying is advised in the variety of Rs 525-550 with a quit loss of Rs 455.
Bharti Airtel
Target- Rs 620
Time Frame- 12 Months
Volatility in the stock has lowered drastically in current time favouring an upside. Pick-up in delivery volumes at decrease levels suggests wholesome upsides anticipated, the report mentioned. “Bharti Airtel has seen sharp moves last year as it move out of the range prevailing for the last many years. With liquidity flow likely to remain higher, stocks like Bharti Airtel are likely to outperform. Moreover, the stock is likely to remain positive till it holds above its long term mean levels in the coming months,” they added. Buying is recommended in the variety of Rs 490-510 with a quit loss of Rs 440.