This year, investors got great returns from the equity market in the stock market, Given the rising fear of inflation, it is likely that most central banks will increase interest rates to reduce liquidity. Apart from this, the uncertainty due to the new Omicron variant of the coronavirus in the next year (2022) may also have an impact on the market. However, if we talk about the best stocks to invest in in the new year 2022, ONGC, SBI, GAIL, HDFC Bank, and TCS are looking strong on the charts.
The government’s decision to increase the price of natural gas by 62 percent will increase the profits of the companies. The company’s EBITDA is likely to increase next year on the back of 5-7 per cent growth in costlier crude oil and ONGC’s production volume. In such a situation, the debt-to-EBITDA ratio of the company can strengthen next year and remain between 1.6x and 1.9x. Technically, Moving Averages (MAs), Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD) and Stochastic are also showing strong trends on the daily chart. In such a situation, in the year 2022, ONGC can reach a price of Rs 170.
GAIL India’s sales have increased on the back of a boom in marketing profits and its earnings have increased. The company’s earnings have been supported by higher gas prices, which may continue into next year as well. Gail India’s profit is also likely to increase due to an increase in gas consumption. On the daily chart, its price is getting support at the Rs 140 level and the buying trend is getting support at the 200-day moving average. Apart from this, RSI is also in the lower zone, due to which GAIL’s prices are expected to reach Rs 165 in the near term.
HDFC Bank is a great investment option due to its strong capitalization, increased liquidity, reduced NPAs, and increased earnings. Right now, its prices are above 100-200 DEMA (Double Exponential Moving Average) on the daily chart. Apart from this, its price is above the Parabolic SAR on the weekly chart, which is showing a positive trend. Next year, the prices of HDFC Bank can reach the level of Rs 1750.
Due to the strong dollar, digitization, and business reforms, the technology sector is strong, and its strength is going to remain in 2022, next year. The prices of TCS (Tata Consultancy Services) are above the Pisces, whose upper band is in the north-ward direction, indicating a rise in its prices. Most of the oscillators are also showing signs of a bullish trend. Next year, its prices could reach the level of Rs 3600.
SBI (State Bank of India)
Right now this stock is above all moving averages, which means there is a possibility of a further increase in it. Apart from this, RSI, MACD, and ADX (Average Directional Index) are also in the comfort zone, due to which a bullish trend is showing in them. In the coming months, this stock could reach a level of Rs 600.