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Benchmark indices on Wednesday settled with sharp cuts, dragged by banks, financials and metal stocks. The 30-share BSE Sensex slumped 1,628 points or 2.23% to settle at 71,501, while the broader NSE Nifty index moved 460 points or 2.09% down to close at 21,572. India VIX, fear index, surged 11.10% to 15.08-level.
For January 18 (Thursday), share market analyst from a domestic brokerage has assigned 'Buy' calls on Welspun Corp, L&T Finance and Apollo Hospitals. Check share price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 570 | SL: Rs 530 An analyst from LKP Securities has given a 'Buy' call on Welspun Corp shares with a target price of Rs 650. The multibagger scrip has zoomed 152.44% in the past one year. "The stock has experienced a breakout from a descending consolidation pattern on daily charts, indicating increased optimism. In the short term, there is a potential for it to move towards Rs 650. On the downside, support is established at Rs 530," said Rupak De, Senior Technical Analyst at LKP.
LTP: Rs 169.95 | SL: Rs 160 The LKP analyst has also selected L&T Finance Holdings Ltd shares in his stock recommendations. He has given a 'Buy' call on the counter with a target price of Rs 185 per share. The stock has jumped 78.43% in a year. "The counter exhibits a bullish trend with higher highs and higher lows, signaling an uptrend. Traders may consider taking a position while setting a stop loss at Rs 160. Target for this potential upswing is set at Rs 185, aligning with the current technical indicators," De stated.
LTP: Rs 5,980.35 | SL: Rs 5,750 The analyst from LKP has included Apollo Hospitals shares in his stock picks as well with a 'Buy' call for a target of Rs 6,500. The scrip has risen 37.80% in the past one year. "The stock looked bullish on daily charts. Traders may consider taking a position while keeping a stop loss placed at Rs 5,750. Upside target is set at Rs 6,500," De mentioned.
"Sentiment could potentially deteriorate further if Nifty drops below 21,550. On the downside, a breach of 21,550 may result in the index descending towards 21,350. Conversely, on the upside, resistance is observed at 21,650," Rupak De from LKP said.
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