Produced by: Prashun Talukdar
Domestic benchmarks on Monday settled lower, dragged by technology and metal stocks. The 30-share BSE pack fell 203 points or 0.27% to close at 76,490. The broader NSE Nifty index shed 31 points or 0.13% to end 23,259. India VIX, fear index, slipped 2.87% to 16.40-level.
For June 11 (Tuesday), analyst from a domestic brokerage has assigned 'Buy' calls for UPL, Cipla and Petronet LNG shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 549.60 | SL: Rs 520 An analyst from LKP Securities has given a 'Buy' call on UPL Ltd shares with target prices of Rs 580-600. The scrip has fallen 19.05% in the past one year. "The stock has broken out from a consolidation phase, indicating positive momentum. Investors may consider initiating a position in the Rs 545-550 range, setting a stop loss at Rs 520. Expected targets for this trade are Rs 580 and Rs 600," said Kunal Shah, Senior Technical & Derivative Analyst at LKP Sec.
LTP: Rs 1,529 | SL: Rs 1,480 The LKP analyst has also selected Cipla Ltd in his stock recommendations. He has given a 'Buy' call on the counter with target prices of Rs 1,580-1,620 per share. The scrip has soared 59.28% in a year. "Investors can consider buying it on a slight pullback around Rs 1,510-1,523 levels. Keep stop-loss placed at Rs 1,475. Expected near-term targets are Rs 1,576 and Rs 1,610," Shah stated.
LTP: Rs 302.60 | SL: Rs 280 The analyst from LKP Sec has included Petronet LNG as well in his stock suggestions with a 'Buy' call. One can expect target prices of Rs 320-340 levels. The counter has risen 35.03% up in the past one year. "The stock has given a breakout on daily charts, indicating bullish momentum. It has taken support at Rs 295, indicating that bulls are active at lower levels and dips are being bought into," Shah mentioned.
"Nifty encountered resistance at higher levels and was unable to close above Rs 23,300. Immediate support for the index stands in the 23000-22900 zone and a break below this range may trigger aggressive selling. In the near term, Nifty is expected to consolidate within a broad range of 23,000-23,500," said Kunal Shah of LKP Securities.
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