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Benchmark indices on Friday scaled their record high levels, led by gains in technology, state-owned lenders and energy stocks. The 30-share BSE Sensex soared 847 points or 1.18% to settle at 72,568, while the broader NSE Nifty index moved 247 points or 1.14% up to close at 21,895. India VIX, fear index, rose 2.46% to 13.08-level.
For January 15 (Monday), share market analyst from a domestic brokerage has assigned 'Buy' calls on Bank of India (BoI), L&T and Sonata Software. Check share price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 127.90 | SL: Rs 115 An analyst from LKP Securities has given a 'Buy' call on Bank of India (BoI) shares with target prices of Rs 145-150. The multibagger stock has risen 30.71% in the past one year. "BoI has exhibited a robust breakout on daily charts, accompanied by a significant surge in volumes. The lower-end support is evident at Rs 115, providing a cushion for the bulls. Anticipating further upward movement, the potential upside targets are set between Rs 145 and Rs 150," said Kunal Shah, Senior technical and Derivative analyst at LKP.
LTP: Rs 3,568 | SL: Rs 3,450 The LKP analyst has also selected Larsen & Toubro (L&T) shares in his stock recommendations. He has given a 'Buy' call on the counter with target prices of Rs 3,800-4,000 per share. The stock has surged 66.95% in a year. "L&T is poised for a breakout from an upward consolidation range. A visible lower-end support at Rs 3,450 acts as a foundation for potential bullish movements. The stock holds potential upside targets of Rs 3,800 and Rs 4,000," Shah mentioned.
LTP: Rs 752.90 | SL: Rs 720 The market expert from LKP has included Sonata Software shares in his stock picks as well with a 'Buy' call for targets of Rs 800-820. The multibagger scrip has zoomed 159.46% in the past one year. "Sonata Software is currently in a robust uptrend, showcasing higher highs and higher lows on daily charts. The lower-end support is identified at Rs 720, providing a cushion for the bulls. The upside potential targets are set at Rs 800-820," Shah stated.
"Nifty exhibited significant strength, securing a notable breakout on daily charts as it surpassed the key resistance level of 21,800. This bullish move positions the index for potential short-term targets of 22,000 and 22,200. Traders are advised to consider buying opportunities on any dips toward the support level," said Kunal Shah from 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.