Stocks that have doubled your money so far in 2021
Published On: Tuesday, May 4, 2021 | By: Team KnowMyStock
Equity markets have so far had a turbulent year with indices oscillating between gains and losses. On a year-to-date basis, the benchmark S&P BSE Sensex has advanced merely 2 percent while the Nifty50 index has added 4.6 percent. Buying in the broader markets has been relatively better with the S&P BSE500 index climbing around 8 percent during the period. Individually though, certain stocks have outperformed the indices by a huge margin on the back of positive news flow. Adani Total Gas, for instance, has soared 207 percent YTD. It recently became the fourth Adani Group company to enter the elite club of Rs 1 trillion market capitalisation after posting a stellar December quarter (Q3FY21) earnings show. During the said period, it saw the highest-ever financial performance with robust physical infrastructure growth despite the ongoing Covid-19 pandemic. That apart, stocks of Hindustan Copper, HEG, and Adani Enterprises have zoomed between 142 percent and 153 percent.
1. Adani Total Gas has managed to cross the bearish range of Rs 1,200 to Rs 1,250, as per the weekly chart. Further, as long as it holds the closing basis support of Rs 1,000-mark, the upside bias may rally towards the uncharted territory of Rs 1,500 to Rs 1,580 levels, as per the weekly chart. The Relative Strength Index (RSI) is continuously witnessing buying momentum in the overbought category suggesting underlying positive sentiment.
2. Hindustan Copper Ltd is currently attempting to cross the resistance of Rs 160 on the closing basis, as per the weekly chart. The RSI is also showing mild weakness; yet it has, so far, managed to trade positively even in the overbought category. Only upon a firm close above Rs 160, the stock may breakout towards Rs 185 and Rs 195-mark. The support comes at Rs 140 levels, as per the weekly chart.
3. HEG Limited of the carbon and graphite maker has seen profit booking in the overbought category of RSI. This created a resistance zone around Rs 2,400-mark.
Thus, the next breakout will be seen once the stock closes above Rs 2,400. When that happens, the counter may see a push towards Rs 2,700 levels, as per the daily chart. The medium-term outlook is bullish as long it trades above Rs 2,000 levels.
4. Graphite India Limited (GRAPHITE) has managed to cross the resistance of Rs 750 and continues to rally in the uncharted territory. This move is supported by RSI, which is witnessing buying momentum even in the overbought category, with the price action not exhibiting any weakness, as per the weekly chart. The overall trend is heading towards Rs 850 with closing basis support staying at Rs 700-mark.
5. IIFL Finance Limited(IIFL) is currently witnessing profit booking below the resistance of Rs 280, as per the weekly chart. Only a strong close above Rs 280 may result in a breakout towards Rs 320 mark. The support comes at Rs 240 levels, which needs the support of a decisive close. The RSI has fallen below the overbought category but needs to make a positive crossover, as per the weekly chart.
6. Alkyl Amines Chemicals Limited (ALKYLAMINE). The counter may see sideways movement, the daily chart suggests. Only a decisive breach of the support level on the downside, placed at the Rs 8,000-mark, may lead to selling pressure. The breakout above Rs 8,500 may see a rally towards Rs 9,200 levels.
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