United Spirits, Thermax can be among top 5 Gladiator stocks for your portfolio

The brokerage firm has selected these five stocks as gladiators. shares, Recommended for a period of three months. However, investors are advised to invest in these stocks in a phased manner within the prescribed limits. Once the recommendation is executed, it is advisable to place a strict stop loss on the basis of closing.

Here are the top five Gladiator stocks recommended by ICICI Direct,

United Spirits: 755-776 BUY | target price 848 | stop falling 712

United Spirits share price is likely to see further upside, with analysts at ICICI Direct estimating an upside of 10 per cent from current levels.

The brokerage has initiated “Buy” action on United Spirits amid buying limits. target price of 755-776 and 848. The time limit given is three months. Can be placed at stop loss 712.

It expects the stock to regain upward momentum and head 848 level as it is a 50% retracement of the decline of the last three months ( 952-730)

“Share price of United Spirits looks attractive at present, as it is undergoing a higher base formation after arresting a secondary correction in the vicinity of the breakout zone of a 7-year contracting triangle. 800, indicating a change of polarity. Thus, offering new entry opportunities with a favorable risk reward,” it said in a research note.

The brokerage said the stock registered a firm breakout from the three-month falling channel and remained above the highs of last two weeks, supported by rising volumes, indicating the conclusion of a corrective bias.

The key point to highlight is that, the consolidation of the last eight months seems to be forming a double bottom formation, indicating a bullish reversal is on the cards, the brokerage said.

Thermax: 2210-2248 Buy Target Price 2,490 | stop falling 2,080

The capital goods sector has stood out amid the current volatility as it outperformed the benchmarks highlighting the strength and positive outlook for the sector. Thermax, which has been undergoing a base formation near its key support over the past few weeks, is now breaking out of a base formation, offering a new entry opportunity.

The brokerage expects the stock price to move up 2500 as this is the implication of the last three months consolidation breakout (1850-2180) projected from the breakout level.

“The share price is nearing the 52-week rising 52-week EMA at the end of December (currently 2037), which has been held since calendar year 20 and then had a nice higher base formation 1850-2180 band for a period of three months. In the current week, the price has broken out of this consolidation despite the wide volatility of the market. This is a sign of resumption of the uptrend.”

Hindustan Aeronautics: Buy target price 2,785-2,835 3,240 | stop falling 2,580

The brokerage has initiated “Buy” action on Hindustan Aeronautics amid a buy limit Target price of 2,785-2,835 3,240. This represents an increase of 14 per cent and the time frame given is three months. Can be placed at stop loss 2,580.

It expects the stock to accelerate to the upside and momentum 3,240 as this is the implied target for the last three months of consolidation (2800-2300).

IDFC First Bank: Buy target price 56.20 64 | stop falling 51

In the private banking sector, brokerage ICICI Direct is positive on IDFC First Bank, which is expected to outperform in the next few months.

Bharat Electronics: 93-97 Buy Target Price 108 | stop falling 87

The brokerage has assigned “Buy” action on BEL amid a buy range. target price of 93-97 and 109. This shows an increase of 11 percent and the time limit given is 3 months. Can be placed at stop loss 87.

It expects the stock to resume its upward trend in the coming weeks and move towards 110, which is an 80 percent retracement of the entire decline of the September 2022-January 2023 decline (114-87).

The views and recommendations given above are of individual analysts or broking companies and not of Mint,