Friends, we have two stocks in our bucket and both are good to add in the portfolio for the long term from the current levels. One is from the insurance sector and another is from oil & gas. If we look at the business module of both companies then services and products are demanding. Both organizations are reputed and trusted in the market and are fundamentally strong. Let’s discuss them one by one.
HDFCLIFE:
It is engaged in
carrying on the business of life insurance. The Company offers a range of
individual and group insurance solutions. The portfolio comprises various
insurance and investment products such as Protection, Pension, Savings, etc.
The company is almost debt free and has a good market cap. The company is
profit making and focusing on business expansion. From the pandemic, life
insurance demand has increased. FIIs & DIIs are holding a good number of
shares percentage.
The technical
chart is also showing strength for up moves. On the monthly time frame stock
has made Double Bottom and now giving a breakout. Weekly chart bulls have
taken handover, so are expecting more up moves. The next hurdle is around
660/720 and immediate support is 590/565.
HPCL: Hindustan Petroleum Corporation Ltd
is mainly engaged in the business of refining crude oil and marketing petroleum
products, production of hydrocarbons as well as providing services for the management
of E&P Blocks. We all know the demand for petroleum products in the India
and world.
The stock price has given a breakout to Falling Wedge on a weekly chart. The stock has retested trend line support and now showing upside moves. We are bullish from the current levels. Immediate support is 225 and small resistance is around 265.
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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.
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