Stock recommendations by analyst for June 14: Bharat Dynamics, Century Textiles and Mishra Dhatu Nigam
Produced by: Prashun Talukdar
Market recap: Sensex, Nifty hit record highs
Domestic benchmarks on Thursday scale their fresh all-time high levels, led by gains in realty, consumer durables, IT and financial shares. The 30-share BSE Sensex pack jumped 539 points to touch a lifetime high of 77,145. It eventually settled 204 points 0.27% higher at 76,810. During intraday trade, the broader NSE Nifty index surged 158 points to hit a record high of 23,481. The index finally closed 76 points or 0.33% up at 23,399. India VIX, fear index, dived 6.25% to 13.49-level.
Stocks with potential 'Buy' calls for June 14
For June 14 (Friday), an analyst from a domestic brokerage has assigned 'Buy' calls for Bharat Dynamics, Century Textiles and Mishra Dhatu Nigam shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
Bharat Dynamics share price target
LTP: Rs 1,496.75 | SL: Rs 1,400 An analyst from Prabhudas Lilladher (PL) has given a 'Buy' call on Bharat Dynamics Ltd shares with a target price of Rs 1,740. The multibagger scrip has gained 170.83% in the past one year. "With much upside potential visible from the current rate, we suggest buying the stock for an upside target of Rs 1,740. Keep stop loss placed at Rs 1,400 level," said Shiju Koothupalakkal, Technical Research Analyst at PL.
Century Textiles share price target
LTP: Rs 2,178 | SL: Rs 2,040 The PL analyst has also selected Century Textiles and Industries Ltd in his stock recommendations. He has given a 'Buy' call on the counter with a target price of Rs 2,430 per share. The multibagger scrip has zoomed 173.53% in a year. "One can anticipate a further rise in the coming days. The stock is indicating a trend reversal with much upside potential visible. The chart looks attractive and can carry on with the positive move further ahead," Koothupalakkal stated.
Mishra Dhatu share price target
LTP: Rs 447 | SL: Rs 420 The analyst from PL has included Mishra Dhatu Nigam Ltd as well in his stock suggestions with a 'Buy' call. One can expect a target of Rs 520 in the near term. The counter has jumped 82.56% in the past one year. "The stock has recovered significantly after a steep fall seen recently. Traders can buy the stock for an upside target of Rs 520, keeping a stop loss at Rs 420," Koothupalakkal mentioned.
Nifty outlook
"Nifty has been consistently flat for the last four days, indicating a pause before a sharp move. The direction of this move is not yet known, at least not before any directional breakout. From here, a decisive move above 23,500 might lead to the covering of call writing, which could take the index higher towards 23,800. On the lower end, support is placed at 23,300, below which the index might weaken," said Rupak De, Senior Technical Analyst at LKP Securities.
Disclaimer
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