Nifty likely to reclaim lifetime high, these 3 stocks could give 10-15% return

The Nifty is approximately 1.4 percent short of a lifetime high while the Bank nifty needs the appreciation of 21 percent approximately to reclaim the all-time high.

MCX: BUY | CMP: Rs 1,728.25 | Target: Rs 1,987 | Stop Loss: Rs 1,630 | Return: 15 percent

The stock had given the multi-year break out of a cup pattern and went sideways for a few weeks keeping the bullish bias intact. Recently, the sign of life can be seen again as the prices are bouncing back from the support zone. The bullish candlestick pattern has been formed on November 5, 2020, suggesting that bulls have entered at lower levels and are likely to take the rally forward. The RSI has bounced back from the significant support levels and short term moving averages has developed a positive curve after a mild correction. Reversal after retracement can be expected in the counter and traders can consider buying the stock at the current market price (CMP) and on any dip till 1,700 for the short-term gain.

L&T Finance Holdings: Buy | CMP: Rs 67.65 | Target: Rs 75 | Stop Loss: Rs 63 | Return: 10 percent

After a prolonged weakness, the stock has formed a medium term base. The prices have started trading above 20-week moving average and RSI has made a range shift from bearish to sideways zone.

In a daily time frame, there is a formation of an 'Inverse Head and Shoulder' pattern suggesting that the worst is over for the time being. The bullish crossover of short term and medium term moving averages ribbon is likely to infuse bullish sentiments in the counter. The RSI has started trading in a bullish zone after an approximate consolidation of two months and prices are tagging the upper Bollinger band. The whole setup looks quite prudent for bulls and traders can initiate buy positions at CMP for the short-term gain.

RBL Bank: Buy | CMP: Rs 193.25 | Target: Rs 216 | Stop Loss: Rs 179 | Return: 12 percent

The short-term range breakout has been witnessed in the stock which is supported by momentum and volatility indicators. The base formation can be seen near the 20 period simple moving average in the weekly time frame.

In the daily time frame, bullish crossovers of moving averages can be seen with decent volumes. Momentum indicators have started trading in a bullish zone and prices are tagging the upper Bollinger band. As per the Fibonacci theory the “good above series” has started and bulls are likely to take the rally forward. Traders can initiate buying positions at CMP and on any dip till Rs 189 with the short term perspective.

Disclaimer: Investments are subject to market risk. Consult Your Financial Advisor before any investments

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