Produced by: Prashun Talukdar
Benchmark indices on Friday settled lower, dragged by automobile, pharma and energy stocks. Headline index Nifty tanked 123 points or 0.56% to close at 22,023-level. The 30-share BSE pack slumped 454 points or 0.62% to close at 72,643. India VIX, fear index, edged 0.49 % up to end at 13.69-level.
For March 18 (Monday), an analyst from a domestic brokerage has assigned 'Buy' calls for IRCTC, Airtel and ITC shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 910.30 | SL: Rs 860 An analyst from LKP Securities has given a 'Buy' call on Indian Railway Catering and Tourism Corporation (IRCTC) Ltd shares with a target price of Rs 3,110. The scrip has gained 50.60% in the past one year. "IRCTC's stock has historically found robust support at Rs 860 levels. It is currently in a buy-on-dip mode, with an immediate target of Rs 950. Sustained trading above the said level could propel it higher towards the Rs 1,000 mark," said Kunal Shah, Senior Technical & Derivative Analyst at LKP Sec.
LTP: Rs 1,213.95 | SL: Rs 1,174 The LKP analyst has also selected Bharti Airtel in his stock recommendations. He has given a 'Buy' call on the counter with a target price of Rs 1,260 per share. The multibagger scrip has jumped 60.83% in a year. "Airtel's stock has defied the overall market trend by remaining above the critical moving average. Over the short term, it may continue its upward trajectory to reach towards the Rs 1,250-12,60 zone. Support is situated at Rs 1,174," Shah stated.
LTP: Rs 417 | SL: Rs 400 The analyst has included ITC Ltd in his stock suggestions as well with a 'Buy' call for a target of Rs 460. The counter has moved 10.08% up in the past one year. "ITC's stock has experienced a consolidation breakout after forming a base on daily timeframe. In the short term, it may continue its upward movement to reach towards Rs 460 level. Support is situated at Rs 400," Shah mentioned.
"For Nifty, immediate support is situated at 21,900, which is expected to provide support. A decisive drop below 21,900 could lead to a sharp decline in the index. On the upside, resistance is observed in the range of 22,200-22,250," said Rupak De, Senior Technical Analyst at LKP Securities.
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