Produced by: Prashun Talukdar
On Wednesday, Indian equity benchmarks settled slightly lower as IT, PSU banks, metals, media and realty stocks dragged. The 30-share BSE Sensex pack fell 73 points or 0.10% to finish at 74,030. The broader NSE Nifty index shed 27 points or 0.12% to end at 22,471. India VIX, fear index, slipped 2.7% to 13.69-level.
For March 13 (Thursday), an analyst from a domestic brokerage assigned 'Buy' calls on Tata Motors, Emami and Crompton shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 668.15 | SL: Rs 634 The LKP Securities analyst has given a 'Buy' call on Tata Motors Ltd shares with a target price of Rs 730. The scrip has slumped 34.27% in the past one year. "After recent correction, Tata Motors looks promising on daily charts and the stock can hit Rs 730 level. Keep stop loss placed at Rs 634 for this trade," said Rupak De, Senior Technical Analyst at LKP Sec.
LTP: Rs 567 | SL: Rs 554 The analyst from LKP has also selected Emami Ltd in his stock recommendations. He has given a 'Buy' call on the counter with an upside target of Rs 590 per share. The scrip has risen 27.76% in a year. "Emami has formed a bullish engulfing pattern on daily charts, indicating growing optimism. The counter has potential to hit Rs 590 level in the near term. Maintain stop loss of Rs 554," De stated.
LTP: Rs 358.30 | SL: Rs 347 The LKP analyst has included Crompton Greaves Consumer Electricals Ltd as well in his stock suggestions with a 'Buy' call. The scrip can hit an upside target of Rs 378, he said. The counter has climbed 25.28% in the past one year. "Crompton has given a consolidation breakout on daily charts. The counter can hit Rs 378 level in the near term. Keep a stop loss of Rs 347 for this trade," De mentioned.
"Nifty experienced another volatile session as traders remained sceptical about the recent market recovery and chose to stay neutral ahead of the weekly expiry. A multiple-bottom formation is observed around 22,300, making this a crucial short-term support level. On the higher end, the index faces resistance in the 22,500-22,600 range," said Rupak De of LKP Securities.
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