3 Low Priced Stocks I Would Like To Buy This Diwali Expecting Multifold Returns

| November 11, 2015

I spent last two days to search 3 low priced stocks to buy this Diwali having potential to give multi-fold returns in next 3-5 years. The expectation of returns is based on Technical Analysis mainly on the principles of Elliott Wave Theory coupled with basic fundamental aspects. These stocks are under the price of 90 having potential of giving 100%-500% returns in next 1-5 years. Let’s have a look.

The South India Bank (SIBK): CMP 20.35 Minimum Target 40 

The South India Bank Chart

The South India Bank Chart

This stock is in long consolidation from last 5 years within 18-35 and now available at Rs. 20 at lower range.  It can easily touch 40 once up move starts and have potential to be multi-bagger in long term.

I would like to add this stock in my portfolio for long term investment (3-5 years) without any stoploss.   

Rain Industries (RAID) : CMP 37, Minimum Target 70

Rain Commodities Chart

Rain Commodities Chart

Rain Industries Company (RAID) currently trading at 37 born in 2007 and is engaged in the business of manufacture and sale of carbon products, chemicals and cement. Company have market cap of 1200 Crore, PE of 9 and book value of 87.

There is long consolidation pattern on chart from last 6 years and wave (3) is yet to be started. This stock can easily go above 70 and have potential to be multi-bagger in long term.

I would like to add this stock in my portfolio for long term investment (3-5 years) without any stoploss.

Magma Fincorp Ltd (MAGM) : CMP 89, Minimum Target 170

Magma Fincorp Chart

Magma Fincorp Chart

Magma Fincorp Ltd (MAGM) currently is trading at 89 born in 2004. Company provides loans for cars and utility vehicles, commercial vehicles, construction equipment, tractors, used vehicles, SME businesses, mortgage finance. Company have Market Cap of Rs. 2132 Cores, PE of 11 and Book Value of 86.

Stock is moving in a beautiful upside consolidation from last 10 years and wave (3) seems yet to be started. Stock can easily touch 170 once up move starts and have potential to be multi-bagger.

I would like to add this stock in my portfolio for long term investment (3-5 years) without any stoploss.

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Disclaimer:

The content in the article is my personal expectation for my personal investment. This article is not a invitation or suggestion for reader to invest/trade.

I would like to add all three stocks in my investment portfolio with equal capital distribution. Means, if I likes to invest Rs. 30,000 then i will invest Rs. 10,000 in all 3.  My investment is for the minimum duration of 3-5 years or till I see minimum 100% returns. I would hold these stocks without stoploss.

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Category: Stocks

About the Author ()

Deepak Kumar is an independent Technical Analyst, regular practitioner and Trainer of Elliott wave theory applying Elliott's Wave Principles on Indian Markets successfully since 2011 and made many accurate predictions. He is also the author of book "Practical Application of Elliott's Wave Principles by Deepak Kumar"

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