Produced by: Prashun Talukdar
Domestic benchmarks on Friday slipped from their all-time high levels, dragged by FMCG, PSU banks, energy and automobile stocks. The 30-share BSE pack settled 269 points or 0.35% down at 77,210. The broader NSE Nifty index touched a record high of 23,667 before closing 66 points or 0.28% lower at 23,501. India VIX, fear index, fell 1.03% to 13.18-level.
For June 24 (Monday), an analyst from a domestic brokerage has assigned 'Buy' calls for Suzlon Energy, RVNL and Granules India shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 53.05 | SL: Rs 49 An analyst from LKP Securities has given a 'Buy' call on Suzlon Energy Ltd shares with a target price of Rs 60. The multibagger scrip has surged 283.03% in the past one year. "The stock has given a positive breakout after days of sideways consolidation, which indicates a rise in optimism. Over the medium term, it could move towards Rs 60 level. On the lower end, support is placed at Rs 49," said Rupak De, Senior Technical Analyst, LKP Sec.
LTP: Rs 409.90 | SL: Rs 394 The LKP analyst has also selected Rail Vikas Nigam Ltd (RVNL) in his stock recommendations. He has given a 'Buy' call on the counter with a target price of Rs 440 per share. The multibagger scrip has zoomed 238.34% in a year. "The stock has given a consolidation breakout on daily charts, suggesting a rising optimism among investors. In the near term, the stock can move towards Rs 440. Support will be placed at Rs 394," De stated.
LTP: Rs 491.95 | SL: Rs 470 The analyst from LKP has included Granules India Ltd in his stock suggestions as well with a 'Buy' call. One can expect an upside target of Rs 530 in the near term. The counter has gained 71.41% in the past one year. "Over the medium term, the stock may move smartly towards the Rs 530 zone. On the lower end, support is placed at Rs 470," De mentioned.
"Nifty has been hovering within the 23,300-23,600 range, indicating indecisiveness and setting the stage for a very volatile monthly expiry. A decisive move above 23,600 might take the index towards 24,000 in the short term, whereas failure to hold above 23,300 might trigger a panic in the market. A drop below 23,300 can take Nifty towards 22,750," said Rupak De of LKP Securities.
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