Produced by: Prashun Talukdar
Domestic benchmarks settled higher on Thursday, led by gains in IT, automobile, pharma and consumer stocks. The 30-share BSE Sensex climbed 115 points or 0.15% to close at 76,520 and the broader NSE Nifty moved up 50 points or 0.22% to end at 23,205. India VIX, fear index, shed 0.46% to 16.70-level.
For January 24 (Friday), an analyst from a domestic brokerage assigned 'Buy' calls on Mahindra & Mahindra, IPCA Labs and Jubilant Ingrevia shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 2,888.90 | SL: Rs 2,770 The Prabhudas Lilladher (PL) analyst has given a 'Buy' call on Mahindra & Mahindra (M&M) Ltd shares with a target price of Rs 3,170. The scrip has surged 81.10% in the past one year. "The stock has indicated a trend reversal to signal a buy with much upside potential visible from the current rate. We suggest buying it for an upside target of Rs 3,170 with a stop loss of Rs 2,770," said Shiju Koothupalakkal, Technical Research Analyst at PL.
LTP: Rs 1,580 | SL: Rs 1,490 The analyst from PL has also selected IPCA Laboratories Ltd in his stock recommendations. He has given a 'Buy' call on the counter with an upside target of Rs 1,750 per share. The scrip has risen 46.03% in a year. "The stock is expected to rise further. One can buy it for an upside target of Rs 1,750, keeping a stop loss at Rs 1,490," Koothupalakkal stated.
LTP: Rs 702.65 | SL: Rs 655 The PL analyst has included Jubilant Ingrevia Ltd as well in his stock suggestions with a 'Buy' call. The stock can hit an upside target of Rs 825, he said. The counter has gained 49.58% in the past one year. "The stock has recently slipped from the resistance zone of Rs 885. We anticipate a further upward movement in the near term. We suggest buying it for an upside target of Rs 825 with a stop loss of Rs 655," Koothupalakkal mentioned.
"For Nifty, the bearish trend is likely to persist as long as the index stays below 23,400. On the downside, support levels are observed between 23,150 and 23,000 levels," said Rupak De, Senior Technical Analyst at LKP Securities.
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