Reliance Industries, State Bank of India, PVR among 5 stocks to buy for gains in 2022; check full list

Sensex and Nifty have rallied more than 21% so far in 2021, extending their bull run that started around April last year. Heading in 2022 the benchmark indices are expected to touch 20,800.

stocks to buy
These stocks include stocks from the technology sector, along with banks, Oil & Gas, healthcare, and media. (Image: PEXELS)

Stocks to buy 2022: Sensex and Nifty have rallied more than 21% so far in 2021, extending their bull run that started around April last year. Heading in 2022 the benchmark indices are expected to touch 20,800, according to technical analysts at ICICI Direct. Analysts have also picked five stocks that on the chart suggest an upside between 25-26% in the coming year. These stocks include stocks from the technology sector, along with banks, Oil & Gas, healthcare, and media. The time frame for each trade is 12 months.

Reliance Industries
Target: Rs 2960 | Stop loss: Rs 1,990
Upside: 25.4%

Mukesh Ambani’s Reliance Industries Ltd (RIL) is among the five stocks picked by ICICI Direct for 2022. Analysts said that RIL has been finding support near its Mean+1*sigma levels since March 2017 on multiple occasions. “Due to the recent market weakness, the stock has moved closer to these levels once again, which provides a fresh entry opportunity from a medium-term perspective,” they added. So far this year, RIL stock has gained 19% to now trade at Rs 2,360 per share. 

Mindtree
Target: Rs 5810 | Stop loss: Rs 3925
Upside: 25.8%

The midcap IT stock has zoomed a whopping 178% so far this year to now trade at Rs 4618 per share. Analysts do not rule out some consolidation in the Mindtree stock as it is still close to the all-time high. “However, we expect Mindtree to remain above its mean+2*sigma levels. Moreover, since the stock is likely to be part of NSE100 indices in the next rebalancing, additional fund buying in the stock is expected in the coming weeks,” they added.

Also Read: Nifty to hit 20,800 in 2022, says ICICI Direct, these factors likely to drive D-Street next year

PVR Ltd
Target: Rs 1,680 | Stop loss: Rs 1,120
Upside: 27%

PVR has underperformed this year, falling 1.52% since January 2021. The stock has taken a beating owing to the covid wave and the threat of repeated lockdowns. The stock is currently trading at Rs 1320, near its long term mean levels of Rs 1350. “As volatility has also contracted in the stock compared to last year, there is a high chance of fresh momentum coming back in the stock,” ICICI Direct said. Delivery volumes have picked up at lower levels for PVR.

State Bank of India
Target: Rs 580 | Stop loss: Rs 384
Upside: 27%

In 2021, public lender SBI rallied a staggering 64% to now trade at Rs 457 per share. “We believe the stock is in a major uptrend and any declines remain a buying opportunity. Moreover, historically, mean+1*sigma has been a good entry opportunity in the stock,” ICICI Direct said. SBI stock has seen some correction recently making it an attractive buying opportunity. 

Apollo Hospitals
Target: Rs 6045 | Stop loss: Rs 4095
Upside: 25%

Share price of Apollo Hospitals Enterprise Limited has doubled in 2021 and now trades at Rs 4,819 per share. ICICI Direct predicts the stock could enter the Nifty 50 index in the next rebalancing round, which has attracted some buying. “With liquidity flows likely to remain higher, stocks are likely to perform better. Currently, the stock is trading near its mean+1.5*sigma levels where we expect the stock to witness fresh buying interest,” they added.

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