What to Buy Before 2019 Election Results?

What to Buy Before 2019 Election Results?

By- ISHANK RAVI | TheLearnEarn | 16/05/2019

This is high time to identify and pick some multibagger stocks for our portfolio before election results for multi-fold return. Since my last set of recommendation performed really well and has encouraged me to do the technical and fundamental analysis.

So let’s begin with discussing the current scenario and all possible outcomes of the election result. It has been observed that the BJP’S chance to come back into the power is much higher as compared to the Mahagathbandhan. So, we must take into consideration the undue advantage that few companies gain through such results (nothing technical but momentum gain).  

If this is the scenario than we may observe new life time high for NIFTY and SENSEX in coming days. Since this will not only bring BJP into power but will also attract foreign investments (FII) and confidence build up for the whole economic policies.

Discussing the technical part let’s start our research from South Indian Bank.

• 1.    SouthIndian Bank- After the Kerala floods South Bank recovered very well and will now definitely show some good numbers in results and coming future. Looking at its technical side south Indian bank have a strong support at Rs.12.50 levels and once it breaches the Rs.13.50 levels it will definitely hit a Target of Rs.18.50 which is 37% return. This stock has high potential to deliver such return. Important Support levels are S1 (Rs.13.50) S2 (Rs.12.50) and Resistance at R1 (Rs.18.50) and R2 (Rs. 23) levels. One can buy South Indian Bank at Rs.12.50-13.50 range for a target of Rs.18.50-23.

• 2.    IndusIndBank Coming on to this private sector bank which is one of my favourite stock . This stock has seen a significant down fall from 1840 levels and currently trying to find a support at 1430 levels this stock has the potential to hit 1825 levels in next 6-8 months. Important support points are S1 (Rs.1430) S2 (Rs.1350) and resistance points are R1 (Rs.1550) R2 (Rs.1810).

One can buy Indusind Bank at Rs.1400-1430 levels for a target of Rs. 1800 in next 8-10 months. (Potential ROI 30%)

• 3.   Yesbank one of the most favoutate stock for all the brokerage houses and various market gurus. This private bank player has suffered a lot in recent past and still under pressure to stand on the word of its supporters. Issues like Rana Kapoor’s exit to new entry of Mr.Ranveet Singh Gill from Deutsche Bank’s as MD, CEO and negative FY3 results has really led down Yes bank share price and investors temperament, but looking at its technical supports it indicated right time to buy for investment and one should definitely wait for such opportunity to buy stuffs like this, Holding time will be definitely high but one should keep such gem in their portfolio.

Important support levels are S1 (Rs.160) S2 (Rs.130) and resistance levels R1 (Rs.240) R2 (Rs.280).

One should buy in a range from Rs.130-160 for a decent target of Rs. 240-280 which is almost 50% returns.

• 4    Mahindra& Mahindra is the beast which one should never forget especially after election season. No matter what the outcome is but this company will definitely in cash the opportunity in every elections I am talking about none other than commercial vehicle giant Mahindra & Mahindra. M&M will file a strong sales report in its coming quarter result and attract the investors. Ultimately resulting in sharp rise in share prices. One can buy M&M at Rs.620 levels for a target of Rs. 730- 800 levels which is roughly around 20% ROI. Major breakout above Rs.740 level.

• 5.   Voltas- At last but not the least we will consider Voltas since summer has been a favourite season for Voltas and AC sales is high as per sales reports submitted by these companies. Voltas being the prominent player in Air conditioner sector and also a mass producer of water    coolers and commercial fridge. One can definitely bet on this stock for a decent return in coming result season. Important support levels are S1 (Rs.555) S2 (Rs.525) and resistance at R1 (Rs.600) and R2 (Rs.630) levels.

Disclaimer- The views expressed are based solely on information available publicly and believed to be true. Investors are advised to independently evaluate the market conditions/risks involved before making any investment decision.

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