Produced by: Prashun Talukdar
Benchmark indices on Thursday resumed their upward move after a single-day halt, led by gains in IT, automobile and metal stocks. The 30-share BSE Sensex jumped 535 points or 0.74% to close at 73,158 and the broader NSE Nifty index moved 162 points or 0.74% up to close at 22,217. During intraday trade, Nifty50 touched its fresh record high of 22,252.50. India VIX, fear index, fell 4.58% to end at 15.20-level.
For February 23 (Friday), an analyst from a domestic brokerage has assigned 'Buy' calls on Midhani, L&T and Nestle. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 444 | SL: Rs 417 An analyst from Prabhudas Lilladher (PL) has given a 'Buy' call on Mishra Dhatu Nigam (Midhani) shares with a target price of Rs 520. The multibagger scrip has surged 120.24% in the past one year. "One can anticipate a further rise in the coming days. We suggest a 'Buy' for an upside target of Rs 520, keeping stop loss placed at Rs 417," said Shiju Koothupalakkal, Technical Research Analyst at PL.
LTP: Rs 3,363 | SL: Rs 3,240 The PL analyst has also selected Larsen & Toubro (L&T) shares in his stock recommendations. The brokerage has given a 'Buy' call on the counter with a target price of Rs 3,760 per share. The scrip has gained 55.76% in a year. "The stock is anticipated to rise further with immense upside potential visible from current levels. We suggest buying the stock for an upside target of Rs 3,760 with a stop loss of Rs 3,240," Koothupalakkal stated.
LTP: Rs 568 | SL: Rs 550 The market expert from PL has suggested a 'Buy' call for Nestle India shares as well with a target price of Rs 2,900. The scrip has moved 37.20% higher in the past one year. "Immense upside potential is visible from current levels. With a favourable risk-reward ratio and attractive charts, we suggest buying the stock for an upward target of Rs 2,900, keeping a stop loss at Rs 2,420," Koothupalakkal mentioned.
"For Nifty, the overall sentiment has turned positive once again. The index has potential to hit 22,400-22,600 levels in the short term. On the lower end, support is placed at 22,100," said Rupak De from LKP Securities.
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