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Benchmark indices on Wednesday settled higher, led by gains media, consumer durables and IT stocks. The 30-share BSE Sensex rose 272 points or 0.38% to settle at 71,658, while the broader NSE Nifty index moved 74 points or 0.34% up to close at 21,619. India VIX, fear index, fell 2.20% to 12.97-level.
For January 11 (Thursday), share market analyst from a domestic brokerage has assigned 'Buy' calls on GRSE, PNC Infratech & Just Dial. Check share price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 906 | SL: Rs 850 An analyst from LKP Securities has given a 'Buy' call on Garden Reach Shipbuilders & Engineers (GRSE) shares with target prices of Rs 950-1,000. The stock has surged 94.42% in the past one year. "It has recently experienced a significant consolidation breakout on daily charts, accompanied by a notable surge in volumes. The stock found support at Rs 850, which is acting as a cushion for potential upward movements. The momentum indicator RSI has surpassed the 60-mark, indicating an acceleration in momentum, further supporting the bullish sentiment," Religare stated.
LTP: Rs 369 | SL: Rs 264 The analyst has also selected PNC Infratech shares in his stock recommendations. The brokerage has given a 'Buy' call on the counter with target prices of Rs 385-400 per share. The stock has risen 17.22% in a year. "PNC Infra has exhibited a robust breakout on daily charts, accompanied by a sharp surge in volumes. The momentum indicator RSI has confirmed the bullish momentum with a positive crossover, surpassing the crucial 60-mark. With a lower-end support established at Rs 350, acting as a cushion for the bulls, the stock has potential upside targets set of Rs 385-400," it mentioned.
LTP: Rs 840.50 | SL: Rs 810 The market expert from LKP has included Just Dial shares in his stock picks as well with a 'Buy' call for targets of Rs 890-920. The scrip has surged 43.55% in the past one year. "The stock recently surpassed a critical resistance level of Rs 820 with substantial volumes, confirming the bullish setup. Moreover, the stock closed above its previous swing high, providing confirmation that the existing uptrend remains intact," the brokerage said.
"Nifty bounced back strongly from its important support at 21,500, indicating that bulls are quite active at this level. The index closed at 21,623, near its resistance. If it manages to close above 21,700-21,750 levels, we might see it reaching 22,000. For those looking to buy Nifty, the recommended range is between 21,550-21,600. Set a stop loss at 21,480 and aim for a target of 21,750," said Kunal Shah, Senior Technical & Derivative 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.