Produced by: Prashun Talukdar
Benchmark indices saw a decent recovery on Wednesday, led by gains in media, metals, state-owned banks and energy stocks. The 30-share BSE Sensex climbed 690 points or 0.98% to settle at 71,060, while the broader NSE Nifty index moved 215 points or 1.01% up to close at 21,454. India VIX, fear index, fell 3.21% to 14.38-level.
For January 25 (Thursday), share market analyst from a domestic brokerage has assigned 'Buy' calls on NMDC Steel, CEAT and PowerGrid. Check share price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 54.95 | SL: Rs 51 An analyst from LKP Securities has given a 'Buy' call on NMDC Steel shares with a target price of Rs 62. The scrip has surged 73.07% in the past one year. "The counter has consistently maintained levels above the crucial moving averages, indicating a positive trend. In the short term, there is a potential for the stock to advance towards Rs 62. On the downside, support is established at Rs 51," said Rupak De, Senior Technical Analyst at LKP.
LTP: Rs 2,880.10 | SL: Rs 2,640 The LKP analyst has also selected CEAT Ltd shares in his stock picks. He has given a 'Buy' call on the counter with a target price of Rs 3,100 per share. The multibagger stock has gained 81.69% in a year. "The stock has been sustaining at higher levels following a swing high breakout. Besides, it has so far sustained above the critical MAs, confirming the positive trend. Over the short term, the counter may move towards Rs 3,100. Support is placed at Rs 2,640," De stated.
LTP: Rs 245.70 | SL: Rs 235 The analyst from LKP has included PowerGrid shares in his stock picks as well with a 'Buy' call for a target of Rs 278. The scrip has jumped 49.32% in the past one year. "The stock has given a consolidation breakout on daily charts, suggesting a rise in optimism. It has so far sustained above the critical MAs, confirming the positive trend. Over the short term, it is likely to move towards Rs 278 level. Support will be at Rs 235," De mentioned.
"Nifty closed below its resistance level of 21,500. A decisive move above the said level could potentially trigger a significant rally in the index. On the downside, support is situated at 21,400-21,350. A confirmed breakthrough above 21,500 may propel the index towards 21,700 and beyond," said Rupak De from LKP Securities.
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