Produced by: Prashun Talukdar
Benchmark indices on Wednesday settled almost on a flat note as losses in technology stocks countered gains in state-owned lenders. The 30-share BSE Sensex shed 34 points or 0.05% to close at 72,152, while the broader NSE Nifty index moved just 1 point or 0.01% up to close at 21,931. India VIX, fear index, fell 1.77% to end at 15.51-level.
For February 8 (Thursday), market analyst from a domestic brokerage has assigned 'Buy' calls on SBI, Motherson and Intellect shares. Check share price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 677.50 | SL: Rs 635 An analyst from LKP Securities has given a 'Buy' call on State Bank of India (SBI) shares with a target price of Rs 750. The scrip has risen 23.24% in the past one year. "Daily charts are signaling a potential upward trend. A long position can be considered within the range of Rs 672, with a stop loss set at Rs 635, targeting Rs 750. Traders may capitalise on this bullish momentum for potential gains," said Rupak De, Senior Technical Analyst at LKP Securities.
LTP: Rs 122.25 | SL: Rs 116 The LKP analyst has also selected Samvardhana Motherson International shares in his stock recommendations. He has given a 'Buy' call on the counter with target prices of Rs 128-133 per share. The scrip has jumped 51.39% in a year. "Motherson has displayed bullish signals. The stock's support level at Rs 116 enhances the bullish outlook, with targets set at Rs 128-133," De stated.
LTP: Rs 1,005.90 | SL: Rs 949 The analyst from LKP Sec has included Intellect Design Arena Ltd shares in his stock picks as well with a 'Buy' call for a target of Rs 1,100. The multibagger scrip has gained 117.80% in the past one year. Intellect has experienced a notable upward move after a consolidation breakout on daily charts, indicating an increase in optimism. There is a potential for the stock to move towards Rs 1,100. Support is established at Rs 950," De mentioned.
"For Nifty, support is positioned at 21,850 and a breach below this level could potentially initiate a correction towards 21,700. On the upside, resistance for the index is identified at 22,000," said Rupak De from LKP Securities.
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