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Benchmark indices on Monday extended their record run, led by gains in technology, energy and bank stocks. The 30-share BSE Sensex soared 759 points or 1.05% to settle at 73,328, while the broader NSE Nifty index moved 203 points or 0.93% up to close at 22,097. India VIX, fear index, rose 5.22% to 13.79-level.
For January 16 (Tuesday), share market analyst from a domestic brokerage has assigned 'Buy' calls on JK Paper, KEC and JM Financial. Check share price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 411 | SL: Rs 390 An analyst from LKP Securities has given a 'Buy' call on JK Paper shares with target prices of Rs 430-440. The multibagger stock has shed 0.50% in the past one year. "JK Paper is poised for a potential breakout on daily charts following an extended consolidation phase. The suggested buying range for the stock is Rs 410-405, with support at Rs 390, and potential upside targets at 430-440," said Kunal Shah, Senior technical and Derivative analyst at LKP.
LTP: Rs 620.50 | SL: Rs 590 The LKP analyst has also selected KEC International shares in his stock recommendations. He has given a 'Buy' call on the counter with target prices of Rs 650-665 per share. The stock has risen 28.18% in a year. "The stock has recently experienced a breakout on daily charts. It is exhibiting a pattern of higher lows, indicative of a bullish trend. The momentum indicator, RSI (Relative Strength Index), is also forming higher lows, reinforcing the bullish undertone," Shah mentioned.
LTP: Rs 101.65 | SL: Rs 98 The market expert from LKP has included JM Financial shares in his stock picks as well with a 'Buy' call for targets of Rs 106-110. The scrip has jumped 43.17% in the past one year. "JM Financial is positioned for a potential breakout as it forms a bullish pennant pattern on daily charts. The stock's trading activity is above its short-term moving average (20-DMA), indicating a bullish undertone. The lower-end support for the stock is identified at Rs 98, providing a cushion for potential price declines. The upside targets are projected at Rs 106-110, making JM Financial an interesting prospect for a bullish move," Shah stated.
"Nifty bulls maintained their momentum, propelling the index to new highs beyond the 22,000 mark. The major support for the index is situated at the 21,800 level, and a breach below this would be essential to negate the prevailing trend. The next immediate upside targets for the index are positioned at 22,200-22,300 levels. Sustaining above these levels could potentially lead the index towards the 22,500 mark," 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.