3 Stocks With Huge Upside Potential In The Short Term

Given the current strong momentum in equity benchmarks with Nifty for the week ended October 25, 2020 settling higher above 11900 points, analysts for the next week foresee Nifty to hit new lifetime high. So, as the bulls seem back in action, here are 3 stocks you can bet on for good returns in short term: Geojit has retained its ‘Buy recommendation on the private sector lender with an increased target price of Rs. 1420 based on 3.5x FY22E BVPS. Retail borrowings in the backdrop of festivities have picked up that will fuel growth in the counter in the next few months.For the quarter ending September of FY21, advances as well as deposits both grew year on year by 15.8% and 20.3%, respectively. There was improvement also on the operating profit front without provisioning at 18.1% YoY. NIM came in at 4.1% while CAR was enhanced to 19.1% as against 17.5% in Q2FY20. Gross and Net NPA however inched higher for the review period by a margin to 1.37% and 0.35% as against 1.36%/0.33% in Q1FY21.ICICI Securities is also bullish on the HDFC Bank counter and expects its share price to move to its all time high price of Rs. 1305 in the coming weeks. The brokerage suggests maintaining a stop of loss of Rs. 1155 on a closing basis. During the current leg of up move is that the stock has witnessed a faster pace of retracement as it completely retraced past its three months consolidation range (Rs 1,158-993) in just two weeks, added the brokerage.The stock of HDFC Bank on October 23, 2020 closed at Rs. 1235.70 per share on the BSE.Advertisement ICICI Securities has given a ‘Buy call on the stock with target price of Rs. 1645. Pidilites last trade price is Rs. 1500.15 apiece on the BSE. The stock is at the cusp of a breakout above the last five months consolidation range of Rs 1,530-1,310, and thus offers a fresh entry opportunity to ride the next up move.The stock has recently formed a higher base above the rising demand line joining lows since March (Rs 1,186) and the 20 days EMA (currently at Rs 1,471), highlighting positive price structure, it said. Maintain a stop loss of Rs 1,468 on a closing basis The real estate counter can be purchased for a price around Rs. 170 for the target of Rs. 200 and Rs. 220. This is a nearly 17 percent upside from the last traded price of Rs. 171.2 per share on the BSE. Stop loss recommended is Rs. 153. Bullish momentum in the counter is supported as stock price is remaining well above all its significant moving averages.Disclaimer: The article is purely informational and is not a solicitation to buy, sell in securities mentioned in the article. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates and the author do not accept culpability for losses and/or damages arising based on information in this article.GoodReturns.in nbsp;