Produced by: Prashun Talukdar
Domestic benchmarks on Friday finished on a slightly higher note, led by gains in metals, PSU banks and realty stocks. The 30-share BSE pack rose 76 points or 0.10% to end at 73,961 and the broader NSE Nifty index moved 42 points or 0.19% up to close at 22,531. India VIX, fear index, rose 0.76% to 24.60-level.
For June 3 (Monday), market analyst from a domestic brokerage has assigned 'Buy' calls for BHEL, IRCON and GE Shipping shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 299.60 | SL: Rs 290 An analyst from LKP Securities has given 'Buy' call on Bharat Heavy Electricals Ltd (BHEL) shares with a target price of Rs 320. The multibagger scrip has rallied 250% in the past one year. "The stock looks good to move towards Rs 320 level in the short term. Support is placed at Rs 290," said Rupak De, Senior Technical Analyst, LKP Sec.
LTP: Rs 271.95 | SL: Rs 262 The LKP analyst has also selected IRCON International Ltd in his stock recommendations. He has given a 'Buy' call on the counter with a target price of Rs 290 per share. The multibagger scrip has zoomed 239.73% in a year. "The counter has potential to head towards Rs 290 level in the near term with support is placed at Rs 262," De stated.
LTP: Rs 1,082 | SL: Rs 1,039 The analyst from LKP has included Great Eastern Shipping Company Ltd as well in his stock suggestions with a 'Buy' call for a target of Rs 1,170. The counter has jumped 52.82% in the past one year. "The stock can head towards the Rs 1170 range in the short term. Support will be placed at Rs 1,039," De mentioned.
"Nifty remained volatile within a narrow range during the day as investors awaited the election results. The highest call writing is visible at 23,000, while there is significant put writing at 22,500, indicating that the index might oscillate between 22,500 and 23,000 in the next few days. However, a fall below 22,500 might trigger a correction towards 22,000," said Rupak De from LKP Securities.
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