ICICI Bank, Ipca Labs, LTTS & Bajaj Consumer: SMC Global shares target prices for these 4 stocks
ICICI Bank has marked its 52-week high of Rs 1,257.80 in the month of July, but since then profit booking at higher levels kept the prices under pressure, said SMC Global.
- Aug 19, 2024,
- Updated Aug 19, 2024 12:48 PM IST
Amid the rising volatility in Indian stock markets, domestic brokerage SMC Global Securities has suggested four stocks- Ipca Laboratories Ltd, Bajaj Consumer Care Ltd, ICICI Bank Ltd and L&T Technology Services Ltd- to bet amid the scarce opportunities to make money. The brokerage has picked the former two based on their sound fundamentals, while the latter two appear to be solid on the technical parameters. Here's what the brokerage has to say about these counters:
Recently, LTTS has experienced a renewed momentum, above its 200-day exponential moving average (DEMA) and since then, it has been consolidating in a broader range of 4800-5200 levels, consistently staying above the 200 DEMA on a daily basis. Technically, the stock has established a Triple Bottom pattern around the Rs 4,800 level and has recently surged past the significant resistance level of Rs 5,200. This upward movement is supported by a substantial increase in trading volume, suggesting the potential for further price gains. Therefore, one can buy the stock in the range of Rs 5,200-5,210 levels for the upside target of Rs 5,800- 5,850 levels with stop loss below Rs 4,800 levels.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Amid the rising volatility in Indian stock markets, domestic brokerage SMC Global Securities has suggested four stocks- Ipca Laboratories Ltd, Bajaj Consumer Care Ltd, ICICI Bank Ltd and L&T Technology Services Ltd- to bet amid the scarce opportunities to make money. The brokerage has picked the former two based on their sound fundamentals, while the latter two appear to be solid on the technical parameters. Here's what the brokerage has to say about these counters:
Recently, LTTS has experienced a renewed momentum, above its 200-day exponential moving average (DEMA) and since then, it has been consolidating in a broader range of 4800-5200 levels, consistently staying above the 200 DEMA on a daily basis. Technically, the stock has established a Triple Bottom pattern around the Rs 4,800 level and has recently surged past the significant resistance level of Rs 5,200. This upward movement is supported by a substantial increase in trading volume, suggesting the potential for further price gains. Therefore, one can buy the stock in the range of Rs 5,200-5,210 levels for the upside target of Rs 5,800- 5,850 levels with stop loss below Rs 4,800 levels.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.