Analyst Sentiment and Top-Rated Stocks
Over the past year, analyst sentiment toward several stocks has seen some changes, as indicated by the ratio of Buy/Hold/Sell ratings. The percentage of Buy ratings has dropped to 71% from 73% a year ago, while the percentage of Holds has risen to 17% from 16%. The percentage of Sell ratings also increased to 12% from 11% a year ago.
According to data compiled by brokerage firm Motilal Oswal, there are ten stocks that are currently receiving high praise from analysts, with at least 96% of them giving Buy ratings to these stocks. This indicates that it may be worth keeping an eye on these particular stocks for potential investment opportunities.
Century Textiles: 12% upside potential as analysts recommend buying between Rs. 717-723
Over the past few weeks, Century Textiles has been showing an upward trend by creating higher lows and higher highs. The stock recovered from its low of 588 in March 2023 and recently surpassed its previous high of 683, which was reached on March 20, 2023.
Furthermore, technical indicators suggest positive signals as the stock has seen a positive crossing of the moving average (MA). The 20-day SMA has recently broken above the 50-day SMA. Momentum readings such as the 14-week Relative Strength Index (RSI) also indicate an upward trend, which is a positive sign.
UltraTech Cement: 4% upside potential, buying opportunity at Rs. 7620-7600 with target price of Rs. 7900 and Stop Loss at Rs. 7420
UltraTech Cement stock has been showing a consistent uptrend pattern as it is trading in an ascending channel and forming a “top top top bottom” formation. Although the stock faced some correction in April, it now appears to continue its uptrend. The RSI oscillator has given a positive crossover, which is a promising indicator for traders. With a short to medium term outlook, it may be worth considering buying opportunities.
Get Havells at Rs 1280-1290 for 9% Upside Potential: Target Price of Rs 1400 with Stop Loss at Rs 1200
Havells Stock: Key Technical Levels and Momentum Indicators Suggest Bullish Outlook
Havells stock corrected from its intermediate high of 1406 in September 2022 and found support at 1024 levels in December 2022. This level is close to the previous intermediate lows and just above the 200-week EMA, indicating strong support.
The stock has since made higher lows and recently broke out of a trading range on strong volumes. The weekly momentum indicator, 14-week RSI, also recovered and crossed its 9-week EMA, indicating a positive signal.
Based on technical analysis, we recommend traders to look for buying opportunities in Havells stock in the range of Rs 1,280-1,290 for a short to medium term outlook, with a stop loss of Rs 1,200 and a target price of Rs 1,400, offering an upside potential of 9%.