For July,2022 the stocks to have upward potentials : analysts said JSW Steel, DLF may see bullish rally

Sector wise, Nifty Bank, Auto, Financials indices led gains, while metals index was the sole laggard. Markets continue to remain volatile and stock specific action is expected. Amid this, analysts at ICICI Direct have picked JSW Steel and DLF stocks among their top bets for July, based on technical and derivative data. The brokerage firm is projecting up to 8% potential rally within the next 30 days

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Indian benchmark indices were trading higher amid positive cues from global markets. The BSE Sensex rose 300 points to 54,527, and the NSE Nifty 50 gained 90 points to 16,222. The broader markets were also in the positive zone with the BSE MidCap and SmallCap indices inching up to 0.3 % higher.

Sector wise, Nifty Bank, Auto, Financials indices led gains, while metals index was the sole laggard. Markets continue to remain volatile and stock specific action is expected. Amid this, analysts at ICICI Direct have picked JSW Steel and DLF stocks among their top bets for July, based on technical and derivative data. The brokerage firm is projecting bullish rally to 8% potential within the next 30 days.

JSW Steel: Buy
Target price: ₹620; Upside: 8%
Duration: 30 days

JSW Steel shares have tanked around 15 % so far this year, underperforming even benchmarks Sensex and Nifty 50 which have corrected over 7 %.

DLF: Buy
Target price: ₹360, Upside: 7%
Duration: 30 days

Analysts at ICICI Direct stated that the share price of DLF has witnessed trend line breakout recently and sustaining above it and 20 day EMA signaling resumption of up move and thus offers fresh entry opportunity.

According to the brokerage report, the formation of higher high-low underpinned by improving market breadth signifies revived upward momentum.

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