📷 Image Credits: The Economic Times
With exit polls predicting a landslide victory for Prime Minister Narendra Modi-led NDA alliance, brokerage firm Motilal Oswal has identified 8 stocks that can benefit from the government’s focus on manufacturing, capex, and infrastructure creation. These ideas are for 3-6 months and with potential upside of up to 20%. Election stocks.
Expanding on the brokerage’s recommendations, the first stock on the list is SBI. The stock is in an overall uptrend and forming higher highs and higher lows on a monthly scale. SBI has been an outperformer within the PSU space and is likely to scale new record highs.
Moreover, the stock has given a range breakout on weekly charts and is holding well above the 50 DEMA. Momentum indicator RSI is positively placed, indicating the potential for higher prices. Additionally, SBI is trading at lifetime high territory, with strong bullish momentum seen on the monthly scale.
Moving on to NHPC, the stock has formed higher highs and higher lows in recent weeks. It managed to close above the 100 zones, with momentum indicator RSI supporting the ongoing uptrend. NHPC has given a range breakout on the weekly scale and is trading at lifetime high territory.
With a strong focus on manufacturing and infrastructure creation, NDMC is another stock to watch. Retesting breakout on a weekly scale and taking support near its 50DEMA, the risk-reward ratio is favorable at the current juncture. The stock is expected to move higher from current zones.
In summary, Motilal Oswal’s top picks include SBI, NHPC, NDMC, and HUDCO for investors looking to capitalize on the NDA alliance’s expected victory. These stocks show strong bullish indicators and potential for growth in the coming months.
