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    Top gainers of 2022: Adani Power, M&M, Coal India, Shree Renuka Sugars and more

    Top gainers of 2022: Adani Power, M&M, Coal India, Shree Renuka Sugars and more

    Top gainers of 2022: Adani Power, M&M, Coal India, Shree Renuka Sugars and more
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    By Dipti Sharma   IST (Published)

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    SUMMARY

    Top Gainers: Despite the market being range-bound lately, there are several stocks on Nifty200 that have shot up quite a bit. Year-to-Date (YTD), benchmark indices--Nifty50 and Sensex--have declined 10 percent whereas a broader gauge of the market Nifty 200 index has slumped 11 percent. KRChoksey’s Deven Choksey said, “I think the market journey is not understood easily and overall market direction definitely is remaining sideways to down”. Meanwhile, Vinay Jaising, MD-Portfolio Management Services, JM Financial believes that the markets are a little bit expensive and Dinshaw Irani, CIO of Helios Capital India said that the biggest spoilsport for the equity party is inflation. Though Irani sees inflation peaking out during the first half of the current fiscal, he added, “So our house call has been that selectively start deploying cash, we are already doing that since the past few weeks. So I would say our view now is bullish, start nibbling at the stocks that you like and be there”. At a time when several market participants have been cautious, here are stocks that have been the top gainers on Nifty 200:

    adani power, share price, nifty 500, top gainers
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    Adani Power | Current Market Price: Rs 259.15 | YTD Gain: 159 percent | Technical view: The stock has the potential to rise up to Rs 325 with Rs 305 acting as the first resistance level. Meanwhile, it is seen drawing support from the Rs 238-level. (Kkunal Parar, Vice President-Research, Choice Broking)

    GMDC, share price, stock market india, nifty 200, top gainers
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    GMDC | Current Market Price: Rs 131.7 | YTD Gain: 78 percent | Technical View: The stock has been undergoing a slower pace of retracement over the past three months wherein it retraced about 62 percent of the preceding four months' rally. The stock is likely to consolidate in a range near Rs 125. The scrip is seen drawing support at Rs 120 and Rs 160 will act as the resistance level. (Dharmesh Shah, Head – Technical, ICICI Direct)

    shree renuka sugars, share price, stock market india
    3 / 8

    Shree Renuka Sugars | Current Market Price: Rs 45.55 | YTD Gain: 52 percent | The support level for the share is Rs 38 while Rs 65 is the resistance level. One can buy Shree Renuka Sugars shares in limited quantity, considering it is a cyclical and high beta stock, with a strict stop loss target. (Arpan Shah, Senior Research Analyst, Monarch Networth Capital)

    Raymond, Raymond share price, sensex, nifty
    4 / 8

    Raymond | Current Market Price: Rs 871.85 | YTD Gain: 40 percent | Technical view: One could wait and watch to enter the stock at this level. The stock is seen taking support at Rs 830 and is likely to face resistance at Rs 930. (Kkunal Parar, Vice President-Research, Choice Broking)

    Great Eastern Shipping Company, share price, stock market india
    5 / 8

    Great Eastern Shipping Company | Current Market Price: Rs 385.8 | YTD Gain: 29 percent | Technical View: Chart suggests a higher top higher bottom formation for Great Eastern Shipping Company's stock, which indicates a bullish trend. The stock will take support at Rs 360 and face resistance at Rs 450. (Arpan Shah, Senior Research Analyst, Monarch Networth Capital)

    Mahindra and Mahindra, share price, nifty 50
    6 / 8

    Mahindra & Mahindra | Current Market Price: Rs 1,079.65 | YTD Gain: 29 percent | Technical View: The share price of M&M has been showing resilience in the current volatile market scenario and the scrip will gradually head towards Rs 1,200 in the coming months. The support level for the stock is at Rs 1,030 while it may face resistance at Rs 1,200. (Dharmesh Shah, Head – Technical, ICICI Direct)

    Adani Enterprises, gautam adani, share price, adani stocks
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    Adani Enterprises | Current Market Price: Rs 2,144.35 | YTD Gain: 26 percent | Technical View: The stock has managed to hold on to the 50-day moving average, highlighting its inherent strength. The scrip can eventually regain upward momentum and gradually challenge the all-time high of Rs 2,420 in the coming months. The stock is seen taking support at Rs 2,040 while Rs 2,400-2,520 is seen as the resistance territory. (Dharmesh Shah, Head – Technical, ICICI Direct)

    coal india, share price, stock market india
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    Coal India | Current Market Price: Rs 178.65 | YTD Gain: 26 percent | Technical View: | Coal India is a buy and hold stock which will offer a decent dividend. The scrip is seen gradually climbing higher towards Rs 230 with strong support at Rs 140. (Arpan Shah, Senior Research Analyst, Monarch Networth Capital)

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