Returns from these stocks beat Sensex in current bloodbath. Do you own any?

Crisil, Hindustan Aeronautics, MRPL, ITC, and Welspun Corp have logged smart gains despite the broader market weakness.

Indian benchmark indices have seen massive sell-off in the recent times. Both the indices, BSE Sensex and Nifty 50 have tumbled 15 per cent each and major stocks, that led the uptrend earlier, have been hit hard. 

Trading experts view this scenario as a sign of bearishness and prefer to stay cautious and fearful going ahead. The Nifty Mid cap and Nifty Small-cap indices plummeted 19 per cent and 24 per cent each, from their respective historic peaks and most stocks in these indices have corrected between a range of 30 to 50 per cent. 

That being said, few stocks have taken a different stand. These stocks had no impact of the recent correction; rather of that massive sell-off and continued their bull rally with ease. They all have outperformed the benchmark indices delivering robust gains.

These select stocks include - Crisil, Hindustan Aeronautics, Mangalore Refinery & Petrochemicals (MRPL), ITC, and Welspun Corp. Among this list shares of Crisil, Hindustan Aeronautics and Welspun Corp have hit new historic peaks, while others are claiming fresh 52-weeks highs. 

MRPL has gained the most in this pack soaring over 26 per cent, followed by Hindustan Aeronautics and Welspun Corp, which spiked 11 per cent and 9 per cent each in May so far.

While the BSE Sensex and Nifty 50 slipped 15 per cent each, MRPL has doubled on a YTD basis in 2022 so far. 

Let’s look at the technical outlook for these outperforming stocks in the current bloodbath:-

Mangalore Refinery & Petrochemicals Ltd (MRPL)

Likely target: Rs 100 and Rs 110

Upside potential: 9% to 20%

With a formation of “Higher High, Higher Low”, the shares of MRPL are firmly trading in an uptrend. The present chart structure exhibits a support at Rs 80 and until this mark is not violated on a closing basis, the uptrend could see long additions, shows the daily chart. The immediate reach would be Rs 100 and Rs 110 levels. CLICK HERE FOR THE CHART

Hindustan Aeronautics Ltd (HAL) 

Likely target: Rs 2,000

Upside potential:  14%

Every time the Moving Average Convergence Divergence (MACD) rose above the zero line, the trend has caught a strong upside rally, according to the daily chart. The short to medium term trend is well placed above the horizontal support of Rs 1,500 mark, and should be considered on the closing time frame. The bullish trend, having a firm momentum points to a rally at Rs 2,000 mark. The immediate support comes to Rs 1,660 level.  CLICK HERE FOR THE CHART

Welspun Corp Ltd (WELCORP) 

Likely target: Rs 300

Upside potential: 30%

The counter was struggling to sustain over the resilient range of Rs 200 to Rs 170, shows the monthly chart. The recent rally that held ground above this range has induced a fresh breakout on the medium term scale. Going forward, as long as the closing basis support of Rs 200 is protected, the upward momentum could see Rs 300 level.  CLICK HERE FOR THE CHART

CRISIL Ltd (CRISIL) 

Likely target: Rs 4,300

Upside potential: 15%

The Crisil shares are rising higher with a bullish formation of “Higher High, Higher Low”, shows the weekly chart. The stock continues to hold the 50-weekly moving average (WMA) placed at Rs 2,746, which stays as a medium-term support. The immediate support comes at Rs 3,300 and Rs 3,000 levels and the optimistic trend is hinting at a positive rally to Rs 4,300 level. CLICK HERE FOR THE CHART

ITC Ltd (ITC) 

Likely target: 40%

Upside potential: Rs 400

As of now, as long as the stock stays above Rs 250 mark - the major breakout and reversal mark in minor corrections, the ITC is ready to hit new historic peak.  READ MORE