3 stock recommendations by analysts for September 18: IndusInd Bank, AB Capital and Mahindra Finance
Produced by: Prashun Talukdar
Market recap: Sensex, Nifty continued to rise
Domestic benchmarks settled higher on Tuesday, led by gains in consumer durables and automobile stocks. The 30-share BSE Sensex rose 91 points or 0.11% to close at 83,080. The broader NSE Nifty moved 35 points or 0.14% higher to end at 25,419. India VIX, fear index, climbed 1.04% to 12.59-level.
Stocks with potential 'Buy' calls for September 18, 2024
For September 18 (Wednesday), analysts from a domestic brokerage assigned 'Buy' calls on IndusInd Bank, AB Capital and Mahindra Finance shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
IndusInd Bank share price target
LTP: Rs 1,470 | SL: Rs 1,425 Analysts from Religare Broking have given a 'Buy' call on IndusInd Bank Ltd shares with a target price of Rs 1,560. The scrip has edged up 0.90% in the past one year. "The private banking sector is gaining significant traction and IndusInd Bank is moving in line with this momentum. The stock has broken out of a trend reversal pattern and crossed its long-term moving average. The chart pattern, combined with strength in the sector, suggests a gradual upward movement in the coming sessions," Religare analysts said.
AB Capital share price target
LTP: Rs 225.10 | SL: Rs 219 Religare analysts have also selected Aditya Birla Capital Ltd in their stock recommendations. They have given a 'Buy' call on the counter with a target price of Rs 240 per share. The scrip has risen 23.04% in a year. "AB Capital has established a new buying pivot while maintaining strength above its short-term moving averages. The stock is on the verge of breaking out from the consolidation pattern, which could propel it toward a new high," the brokerage stated.
Mahindra Finance share price target
LTP: Rs 328.40 | SL: Rs 320 Analysts from Religare have included Mahindra and Mahindra Financial Services Ltd as well in their stock suggestions with a 'Buy' call. The stock can move towards Rs 350, they said. The counter has climbed 8.94% in the past one year. "M&M Fin has recently registered a breakout from a multi-month corrective phase. The stock has now recorded a fresh breakout from a bullish flag pattern. The positive tone will continue in the near term," the brokerage mentioned.
Nifty outlook
"We recommend continuing with a 'buy-on-dip' strategy, targeting an upside of 25,550 in Nifty. Additionally, selective sectors like banking, financials, realty, and IT are presenting stock-specific buying opportunities so plan the trades accordingly," Religare Broking said.
Disclaimer
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