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ICICI Direct advised to buy these two shares, said – can go up to 12%

Multibagger Stock: Nifty 50 and BSE Sensex have touched new all-time highs and are unlikely to slow down. Sensex is now above 60,000 points while Nifty 50 is closer to 18000 than ever before. Amidst this upward trend, the broader markets have participated in both smallcap and midcap indices showing the move. Bank Nifty has also reached a new record high. As the index is moving up, ICICI Direct analysts have picked two stocks which they believe to move between 10-12% with a strong technical uptrend pattern and strong fundamentals. is likely to.

Housing Development and Finance Corporation (HDFC): ‘Buy’ rating

Target Price: Rs 3,125

According to ICICI Direct, “HDFC share price was moving in a range since February this year before rising early last month. “The stock is on the verge of generating a breakout above the last seven months range and recently witnessed a bullish retracement of the last falling segment as the 24-week correction (Rs 2896-2380) is completely back in just 7 weeks. has arrived, thus offering new entry opportunities. “

“The brokerage firm expects the stock to move towards Rs 3,125 levels, which is up 10% from current levels,” ICICI Direct said. ICICI Direct has recommended trading with a time frame of three months.

Phoenix Mills: Rating – Buy

Target Price: 1,085 Rupees

Real estate sector stocks have outperformed the benchmark indices in the recent trading sessions. ICICI Direct believes that Phoenix Mills is a major beneficiary of the economy returning to normalcy.

ICICI Direct said, “The stock is coming out of the 20-month consolidation range.” He said the stock is expected to move towards the target of Rs 1,100 in the coming months. The breakout for Phoenix Mills is considered to be well supported by strong volumes of more than three times the 50-week average volume, highlighting a large involvement in the direction of the trend. The time frame for trading is three months with 12% growth potential.

Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from ABPLive.com Also investing money is never advised here.)

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