Produced by: Prashun Talukdar
Benchmark indices on Friday continued their upward move for the fourth straight session, led by gains in automobile, IT and pharma stocks. The 30-share BSE Sensex rose 376 points or 0.52% to close at 72,427 and the broader NSE Nifty index moved 130 points or 0.59% up to close at 22,041. India VIX, fear index, shed 0.01% to end at 15.22-level.
For February 19 (Monday), market analyst from a domestic brokerage has assigned 'Buy' calls on Adani Ports, SBI Life and Tata Consumer shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 1,310.10 | SL: Rs 1,250 An analyst from LKP Securities has given a 'Buy' call on Adani Ports shares with a target price of Rs 1,450. The multibagger scrip has zoomed 126.41% in the past one year. "The stock has experienced a breakout from flag pattern on daily charts, signaling a positive shift in the trend. In the short term, it is expected to move towards Rs 1,450. However, the momentum may wane if the counter falls below Rs 1,250," said Rupak De, Senior Technical Analyst at LKP Sec.
LTP: Rs 1,514 | SL: Rs 1,460 The LKP analyst has also selected SBI Life Insurance shares in his stock recommendations. He has given a 'Buy' call on the counter with target prices of Rs 1,560-1,590 per share. The scrip has risen 31.69% in a year. "The stock has recently experienced a breakout from a triple top formation, signaling a bullish undertone. It is currently in a buy mode within the range of Rs 1,510-1,500, with a suggested stop-loss at Rs 1,460. The potential upside targets for the stock are set at Rs 1,560-1,590," De stated.
LTP: Rs 1,148.95 | SL: Rs 1,100 The analyst from domestic brokerage LKP has included Tata Consumer Products shares in his stock picks as well with a 'Buy' call for a target of Rs 1,250. The scrip has jumped 58.20% in the past one year. "The stock has broken out of a consolidation pattern. In the short term, the stock is anticipated to move towards Rs 1,250. However, momentum may weaken if it falls below Rs 1,100," De mentioned.
"Domestic benchmarks remained optimistic for the fourth straight session as Nifty once again reclaimed the crucial 22,000 mark, helped by buying in banking, IT, auto and realty shares. While positive global cues boosted investors' sentiment, the recent weakness has allowed investors to take exposure to beaten-down stocks," said Prashanth Tapse, Senior VP (Research) at Mehta Equities.
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