Produced by: Prashun Talukdar
Benchmark indices on Wednesday settled with deep cuts as media, metal, state-owned banks, realty and energy stocks dragged. The 30-share BSE pack slumped 906 points or 1.23% to close at 72,762 and the broader NSE Nifty index moved 338 points or 1.51% lower to end at 21,998. India VIX, fear index, jumped 5.82% to end at 14.43-level.
For March 14 (Thursday), a market analyst from a domestic brokerage has assigned 'Buy/Sell' calls for United Breweries, Glenmark Pharma and SBI Life shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 1,725.30 | SL: Rs 1,680 An analyst from Angel Broking has given a 'Buy' call on Kotak Mahindra Bank Ltd shares with target prices of Rs 1,780-1,790. The scrip has fallen 9.63% in the past one year. "The stock has witnessed a prominent correction. We recommend buying the counter with a stop loss of Rs 1,680 for positional targets of Rs 1,780-1,790," said Osho Krishan, Senior Research Analyst - Technical & Derivatives at Angel One.
LTP: Rs 460.70 | SL: Rs 430 The analyst has also selected CG Power and Industrial Solutions Ltd in his stock recommendations. He has given a 'Buy' call on the counter with target prices of Rs 490-495 per share. The scrip has climbed 2.47% in a year. "The stock firmly withheld its sturdy technical structure amidst the rising uncertainty, showcasing resilience. It seems to continue its upward trend. We recommend accumulating the counter. Keep stop loss placed at Rs 430 for targets of Rs 490-495," Krishan stated.
LTP: Rs 1,040.85 | SL: Rs 1,080 The Angel One analyst has included Voltas Ltd in his stock suggestions as well but with a 'Sell' call for downward targets of Rs 1,010-1,000. The counter has moved 6.43% up in the past one year. "The stock has undergone a correction. We recommend selling Voltas shares. And, expected downside levels will be Rs 1,010-1,000. Resistance is positioned at Rs 1,080," Krishan mentioned.
"In the short term, Nifty may continue to be susceptible to selling pressure with resistance anticipated around 22,250. On the downside, support levels are positioned at 21,800 and 21,700," said Rupak De, Senior Technical Analyst at LKP Securities.
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