Produced by: Prashun Talukdar
Domestic benchmarks continued their strong run on Friday, led by gains in automobile, consumer durables and healthcare stocks. The 30-share BSE pack settled 182 points or 0.24 per cent higher at 76,992. The broader NSE Nifty index touched an all-time high of 23,490 before closing 67 points or 0.29 per cent up at 23,466. India VIX, fear index, dived 4.93% to 12.82-level. Market was closed on Monday due to mark 'Eid al-Adha'.
For June 18 (Tuesday), an analyst from a domestic brokerage has assigned 'Buy' calls for Nykaa, Container Corp and Piramal Pharma shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 170.28 | SL: Rs 160 An analyst from LKP Securities has given a 'Buy' call on Nykaa Ltd shares with target prices of Rs 180-200. The scrip has climbed 13.18% in the past one year. "The stock is showing early signs of bottom formation, evidenced by volume-based buying," said Kunal Shah, Senior Technical & Derivative Analyst at LKP Sec.
LTP: Rs 1,134.80 | SL: Rs 1,060 The LKP analyst has also selected Container Corporation of India Ltd in his stock recommendations. He has given a 'Buy' call on the counter with target prices of Rs 1,240-1,360 per share. The scrip has surged 71.69% in a year. "The stock is trading in a strong uptrend. The lower-end support is placed at Rs 1,060, which will act as a cushion in case of any decline," Shah stated.
LTP: Rs 157.36 | SL: Rs 150 The analyst from LKP has included Piramal Pharma Ltd as well in his stock suggestions with a 'Buy' call. One can expect targets of Rs 180-200 in the near term. The counter has jumped 72% in the past one year. "The stock is on the verge of a breakout from its consolidation phase on daily charts. Once the stock surpasses the mark of Rs 160, it is likely to see an acceleration of momentum towards Rs 180-200 levels," Shah mentioned.
"Nifty remained within the defined range of 23,300-23,500. The short-term sentiment is likely to remain more or less positive. Support levels are seen at 23,400-23,300, where put writers have built significant positions. A decisive fall below these levels might shift the market balance in favor of the bears. Until then, it is a 'buy-on-dip' market. On the higher end, a decisive move above 23,500 might lead to a sharp upside in the near term," said Rupak De, Senior Technical Analyst at LKP Securities.
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