The stock price of asset management company Nippon Life India Asset Management Ltd rose over 23 percent in the first half of 2021, much ahead of Nifty's 13 percent rally in the same period.
After hitting a 52-week high of Rs 385.15 on June 7, the counter has seen consolidation and is currently trading near the crucial support at the 50-Days Exponential Moving Average. History suggests that whenever the stock trades around this short-term moving average it sees a sharp bounce back.
According to experts, this presents a short-term opportunity in the stock for a target of Rs 430-450. This translates into an upside of 16-22 percent from CMP.