Produced by: Prashun Talukdar
Indian equity benchmarks settled higher on Monday, led by gains in banks, financials, automobile, pharma and metal stocks. The 30-share BSE Sensex pack rose 341 points or 0.46% to finish at 74,170. The broader NSE Nifty index climbed 112 points or 0.5% to end at 22,509. India VIX, fear index, moved up 1.01% to 13.42-level.
For March 18 (Tuesday), an analyst from a domestic brokerage assigned 'Buy' calls on Varun Beverages, ICICI Bank and Chambal Fertilisers shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 507.75 | SL: Rs 484 The LKP Securities analyst has given a 'Buy' call on Varun Beverages Ltd shares with a target price of Rs 560. The PepsiCo bottler's scrip has slipped 11.63% in the past one year. "The stock has given a flag pattern breakout on daily charts, suggesting a possibility of a strong uptrend in the short term. It can move towards Rs 560 in the near term, while support is placed at Rs 484," said Rupak De, Senior Technical Analyst at LKP Sec.
LTP: Rs 1,268.65 | SL: Rs 1,237 The analyst from LKP has also selected ICICI Bank Ltd in his stock recommendations. He has given a 'Buy' call on the counter with an upside target of Rs 1,320 per share. The scrip has risen 17.34% in a year. "The stock has given a consolidation breakout on daily charts, indicating rising optimism. In the short term, it can hit an upside target of Rs 1,320. Support will be placed at Rs 1,237," De stated.
LTP: Rs 579.60 | SL: Rs 554 The LKP analyst has included Chambal Fertilisers and Chemicals Ltd as well in his stock suggestions along with a 'Buy' call. The scrip can scale an upside target of Rs 612, he said. The counter has jumped 68.51% in the past one year. "The stock has been sustaining above the previous consolidation zone. In the short term, an upside move is expected to push the stock towards Rs 612 with support placed at Rs 554," De mentioned.
"Nifty mostly remained sideways before closing with a gain. The index might move towards 22,670-22,880 levels in the near term. On the lower end, support will be placed at 22,350, below which Nifty may see some weakness," said Rupak De of LKP Securities.
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