Produced by: Prashun Talukdar Designed by: Mohsin Shaikh
Benchmark indices on Thursday continued their losing run for the third straight session. The domestic indices were dragged by banks, financials, metals, consumer and IT stocks. The 30-share BSE Sensex fell 314 points or 0.44% to settle at 71,187, while the broader NSE Nifty index moved 110 points or 0.51% down to close at 21,462. India VIX, fear index, dived 6.69% to 14.07-level.
For January 19 (Friday), share market analyst from a domestic brokerage has assigned 'Buy' calls on Suzlon Energy, BHEL and Metropolis Healthcare. Check share price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 212.90 | SL: Rs 194 An analyst from Prabhudas Lilladher (PL) has given a 'Buy' call on Bharat Heavy Electricals Ltd (BHEL) shares with a target price of Rs 247. The multibagger scrip has zoomed 166.13% in the past one year. "The stock has been in a very strong uptrend since the last 5-6 months. It has once again indicated a bullish candle pattern on daily charts. Next expected targets are Rs 235-247. One can stay invested keeping a near-term stop loss of Rs 194," said Shiju Koothupalakkal, Technical Research Analyst at Prabhudas Lilladher.
LTP: Rs 42.90 | SL: Rs 37 The PL analyst has also selected Suzlon Energy Ltd shares in his stock recommendations. He has given a 'Buy' call on the counter with a target price of Rs 54 per share. The multibagger stock has rallied 344.56% in a year. "The overall trend is maintained strong and with indicators showing strength. The stock can gain further with next expected targets of Rs 49-54 levels. With charts looking good, we suggest to buy the stock for an upside target of Rs 54, keeping stop loss placed at Rs 37," Koothupalakkal stated.
LTP: Rs 1,563 | SL: Rs 1,470 The analyst from PL has included Metropolis Healthcare shares in his stock picks as well with a 'Buy' call for a target of Rs 1,730. The scrip has risen 15.10% in the past one year. "The stock has witnessed a decent erosion and has now indicated a pullback. With the chart pattern getting better, we suggest to buy the stock for an upside target of Rs 1,730, keeping stop loss at Rs 1,470," Koothupalakkal mentioned.
"Nifty is likely to remain weak as long as it stays below 21,550. A decisive move above 21,550 might weaken the bears; until then, bears might control the market. On the lower end, support is placed at 21,400. A drift below 21,400 might take Nifty for a revisit to 21,250-21,200," said Rupak De, Senior Technical Analyst at LKP Securities.
Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position.