After a hiatus, Indian benchmark indices settled with big gains on Thursday amid the weekly expiry of the F&O contracts. Buying interest in the IT stocks during the results season pushed the headline indices to new all time record levels. BSE Sensex surged 626.91 points, or 0.78 per cent to end at 81,343.46. The Nifty50 index gained 187.85 points, or 0.76 per cent, to settle at 24,800.85 for the day.
Some buzzing largecap stocks namely IRB Infrastructure Developers Ltd (IRB Infra), India Cements Ltd and Container Corporation of India Ltd (Concor) are likely to remain under the spotlight of traders for the session today. Here is what a host of brokerage firms have to say on these stocks ahead of Friday's trading session:
Container Corporation of India | Buy | Target Price: Rs 1,207 | Stop Loss: Rs 1,062
Concor after witnessing a short period of correction from the recent peak. It has taken support in the Rs 1,015 zone, witnessing a decent pullback to move past the significant 50EMA level of Rs 1,044 to improve the bias and anticipating further rise in the coming days. The RBI has arrived at a very attractive zone and is well placed indicating a trend reversal to signal a buy. With the chart pattern looking attractive, we suggest to buy the stock for a target price of Rs 1,207 with a stop loss at Rs 1,005.Recommended by: Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher
India Cements | Buy | Target Price: Rs 418 | Stop Loss: Rs 260
India Cements made several attempts since the year 2008 to clear the hurdle of Rs 300 mark and this time finally it succeeded in doing that. The stock has confirmed a multiyear breakout above Rs 300 mark and that is a significant development. Even the RSI on monthly and weekly scale has confirmed a fresh breakout which indicates fresh upside. Thus, we advise traders to go long in the stock in the range of Rs 318 – 302 with a stop loss of Rs 260 for the upside target of Rs 410 in 3 – 6 months.Recommended By: Mehul Kothari, AVP : Technical Research at Anand Rathi Share and Stock Brokers
IRB Infrastructure Developers | Buy | Target Price: Rs 84 | Stop Loss: Rs 66
IRB Infra has overall witnesses a rising trend in the last one year and recently after and recently after a consolidation period near Rs 65 zone, it has picked up well to move past the significant 50EMa level of Rs 66.50 to improve the bias and anticipate for further rise in the coming days, With the RSI indicating strength, it is on the rise and has potential to carry on with the positive move further ahead. With the charts looking attractive, we suggest to buy the stock for an upside target of Rs 84, keeping a stop loss at Rs 66.Recommended by: Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher
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