The NSE Nifty 50 index, thus far, has delivered up to 13.7 per cent gain in the year 2024, in spite of periods of sharp volatility. The National Stock Exchange (NSE) benchmark index registered a new summit at 26,277 - on September 27. The year's low stood at 21,137 - hit on January 24.
Amid this, large-cap stocks too have delivered bountiful gains this calendar year. 4 out of every 5 large-cap stocks were seen holding gains for the year as of December 13; whereas, more than 2 out of 107 large-cap stocks on the NSE had surged more than 50 per cent in the same period.
New-age stock - Zomato leads the list with a gain of 133 per cent. That apart, Trent and Vedanta too have more-than-doubled in this calendar year. Other prominent gainers include stocks like - Siemens, Mahindra & Mahindra (M&M), Bharat Electronics (BEL), Hindustan Aeronautics (HAL), Bharti Airtel, Indian Railway Finance Corporation (IRFC), Hindustan Zinc, Shriram Finance and Divi's Laboratories - up 50 - 96 per cent each.
Going ahead into the New Year 2025, 2 out of this year's top-performers look set for yet another robust performance on the bourses based on the existing technical chart patterns. Here's a technical outlook on 5 large-cap stocks that are likely to deliver over 20 per cent upside in the calendar year 2025.
ALSO READ: Market outlook 2025: Brokerages on opportunities, risks, investible themes Zomato Current Price: Rs 292
Upside Potential: 26.7%
Support: Rs 240
Resistance: Rs 323; Rs 350
Apart from the 133 per cent gain in the calendar year 2024, Zomato stock has witnessed a phenomenal rally of nearly 500 per cent since the start of the financial year 2024 - from levels of Rs 51 to a high of Rs 305. The long-term chart shows that the stock has been chugging around the higher-end of the Bollinger Bands for the last 21 months.
ALSO READ: MidCaps HDFC AMC, L&T Fin can rally up to 18%; show charts Similarly, on the weekly chart too Zomato has been making higher highs and higher lows since May 2023. Barring the blip in June 2024, the stock has broadly found support around its 20-WMA (Weekly Moving Average) in case of dips.
Chart shows that Zomato is expected to trade with a favourable bias as long as the stock holds above Rs 240 levels. On the upside, the stock can potentially rally to Rs 370; with interim resistance expected around Rs 323 and Rs 350 next year.
CLICK HERE FOR THE CHART Hindustan Aeronautics (HAL) Current Price: Rs 4,681
Upside Potential: 25.5%
Support: Rs 4,475; Rs 4,230; Rs 3,977
Resistance: Rs 4,970; Rs 5,400
Despite the mid-year share price correction, HAL continues to hold a strong 68 per cent gain for the calendar year 2024 at present levels. The stock was up 104 per cent at the highest point (Rs 5,669) in the year.
Amid the intra-year correction, HAL stock seems to have found support around its super trend line on the weekly scale, which stands at Rs 3,977. Going ahead, the stock is expected to trade with a favourable bias as long as this support is held; near support for the stock can be expected around Rs 4,475 and Rs 4,230 levels.
On the upside, the stock can potentially resume its uptrend, and rally to newer heights around Rs 5,875 levels. Interim resistance for the stock can be expected around Rs 4,970 and Rs 5,400 levels.
CLICK HERE FOR THE CHART Apollo Hospitals Current Price: Rs 7,210
Upside Potential: 20%
Support: Rs 6,990; Rs 6,000
Resistance: Rs 7,400; Rs 7,700; Rs 8,150
Apollo Hospitals stock is seen making higher-highs and higher-lows on the monthly scale in 2024. The stock thus far has hit a new high at Rs 7,545. In the second-half of 2024, the stock has consistently found support around its 20-WMA, which now stands at Rs 6,990.
Thus, the chart hints that the bias at the counter is likely to remain upbeat as long as Rs 6,990 is maintained on a weekly closing basis. Below which, next major support for the stock exists around Rs 6,000-mark.
ALSO READ: Dixon Tech, Ambuja, BHEL among stocks to buy on dips On the upside, the stock needs to break and trade consistently above Rs 7,400 for fresh upward momentum to resume. As such, the stock can potentially soar to Rs 8,650; with interim resistance seen at Rs 7,700 and Rs 8,150 levels.
CLICK HERE FOR THE CHART Bajaj Finance Current Price: Rs 7,220
Upside Potential: 21.2%
Support: Rs 6,450; Rs 5,500
Resistance: Rs 7,700; Rs 8,100
Bajaj Finance stock has been consolidating broadly in the range of Rs 5,300 - Rs 7,800 for the last 4 years. Chart shows that the lower-end of the range coincides with the super trend line on the monthly scale; thus showing presence of support around Rs 5,500 levels. Near support for the stock is seen at Rs 6,450.
Select key momentum oscillators are now on the verge of turning favourable for the stock. Hence, Bajaj Finance stock may witness a positive trend in the coming period. As such, the stock can potentially surge to Rs 8,750, with interim resistance likely around Rs 7,700 and its previous high of Rs 8,100 levels.
CLICK HERE FOR THE CHART Avenue Supermart (DMart) Current Price: Rs 3,635
Upside Potential: 21%
Support: Rs 3,580; Rs 3,550; Rs 3,475; Rs 3,330
Resistance: Rs 3,700; Rs 3,980; Rs 4,050
DMart can be a contra-buy call for next year, as the stock at present trades in an oversold zone, and near key long-term support levels. As per the long-term chart, the stock is trading fairly close to its super trend line support on the monthly scale, which stands at Rs 3,580. The stock till date has never broken the monthly super trend line support.
On the weekly scale, the stock is fairly oversold, with select key momentum oscillators showing some signs of possible pull-back. Chart shows, the stock may seek support around Rs 3,550, below which next significant support stands at Rs 3,475 and Rs 3,330 levels.
On the upside, the stock will need to break and trade consistently above Rs 3,700 - Rs 3,980 - Rs 4,040 resistance zone for the overall mood to turn favourable. Above which, a rally towards Rs 4,400 seems likely.
CLICK HERE FOR THE CHART