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Business News/ Markets / Stock Markets/  Stocks to Buy: Aarti Industries, Navin Fluorine, UPL among 6 chemical stocks with up to 25% upside potential: Analyst
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Stocks to Buy: Aarti Industries, Navin Fluorine, UPL among 6 chemical stocks with up to 25% upside potential: Analyst

As per the technical analysis report by the analyst, Aarti Industries, Navin Fluorine International, Tatva Chintan Pharma Chem and UPL are among stocks showing consolidation and are bottoming out and can see a decent upmove.

Tatva Chintan Pharma Chem stock has been consolidating for quite some time at around ₹1,600 and ₹1,850 levels and now has made a positive candle pattern in the daily chart with good volume activity. (Image: Bloomberg )Premium
Tatva Chintan Pharma Chem stock has been consolidating for quite some time at around 1,600 and 1,850 levels and now has made a positive candle pattern in the daily chart with good volume activity. (Image: Bloomberg )

Aarti Industries, Navin Fluorine International, Alkyl Amines Chemicals, Tatva Chintan Pharma Chem, UPL and Gujarat Alkalies & Chemicals are six chemical sector stocks that can give up to 25% upside in the short term, according to Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher.

As per the technical analysis report by the analyst, these stocks are showing consolidation and are bottoming out and can see a decent upmove.

Aarti Industries | Buy | TP: 600

Aarti Industries has made more or less a double bottom pattern formation in the daily chart and has got strong support at around 440 levels. The stock has regained strength and is on the rise, and we anticipate further upside gains in the coming days. With the RSI turning positive, signaling a buy, we recommend this stock for an upside target of 600 while keeping a stop loss of 440, Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher said.

Navin Fluorine International | Buy | TP: 5,500

Navin Fluorine International shares made a higher bottom formation in the daily chart, and the trend is in a positive bias with much potential on the upper side. The analyst anticipates the stock to give a breakthrough above the 4,900 level, and along with volume and favorable factors supporting a buy, Parekh recommends a buy in this stock for an upside target of 5,500 while keeping a stop loss of 4,300.

Also Read: Buy or sell: Paints sector in consolidation mode. Add Kansai Nerolac, reduce Asian Paints, Berger

Alkyl Amines Chemicals | Buy | TP: 3,000

Alkyl Amines Chemicals stock has corrected well from the peak levels of 4,700 to 2,100. It has made a higher bottom formation in the daily chart, and from thereon has recovered strongly to move near the 200 DMA level with volume signifying strength, Parekh said.

Parekh anticipates a further up move to the extent of around 3,000 levels, and with the RSI showing positive bias, she recommends a buy in this stock for an upside target of 3,000 while keeping a stop loss of 2,250.

Tatva Chintan Pharma Chem | Buy | TP: 2,100

Tatva Chintan Pharma Chem stock has been consolidating for quite some time at around 1,600 and 1,850 levels and now has made a positive candle pattern in the daily chart with good volume activity. The RSI indicator has made a positive trend reversal and has signaled a buy with positive bias, Parekh noted. 

With favorable indicators supporting, she has a ‘Buy’ rating on the stock and a target of 2,100 keeping a stop loss of 1,600.

Also Read: Stocks to Buy: Tata Steel, JSW Steel, Jindal Steel & Power among top bets in metal sector

UPL | Buy | TP: 730

UPL after correcting from the levels of 860 has been consolidating for some time and now has given a positive candle pattern in the daily chart with good volume participation and we anticipate the stock to rise further strongly to the levels of 700 and above, Parekh said.

The RSI indicator has given a decisive positive trend reversal to indicate strength and we recommend a buy in this stock for an upside target of 730 keeping a stop loss of 540, she added.

Gujarat Alkalies & Chemicals | Buy | TP: 850

Gujarat Alkalies & Chemicals shares corrected steeply from the levels of 1,050 to bottom out at the 550 level. Thereafter, the stock has made a higher bottom formation and steady recovery with decent volume activity. The strength is still maintained, and there is potential to rise much more from these levels, the Prabhudas Lilladher analyst said.

With the RSI on the rise, she recommended a buy in this stock for an upside target of 850 while keeping a stop loss of 620.

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Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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Published: 31 Aug 2023, 12:26 PM IST
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