Produced by: Prashun Talukdar
Indian equity benchmarks extended their gains and settled higher on Wednesday, led by gains in banks, financials, metals, consumer durables and energy stocks. The 30-share BSE Sensex pack rose 148 points or 0.20% to finish at 75,449 and the broader NSE Nifty index climbed 73 points or 0.32% to end at 22,908. India VIX, fear index, moved up 0.66% to 13.30-level.
For March 20 (Thursday), an analyst from a domestic brokerage assigned 'Buy' calls on SBI, SJVN and MOFSL shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 745.05 | SL: Rs 714 The LKP Securities analyst has given a 'Buy' call on State Bank of India (SBI) shares with a target price of Rs 785. The country's largest lender's scrip has edged up 2.94% in the past one year. "SBI has given a flag pattern breakout on daily timeframe, indicating a continuation of the uptrend. Over the short term, the stock price might move towards Rs 785. On the lower end, support is placed at Rs 714," said Rupak De, Senior Technical Analyst at LKP Sec.
LTP: Rs 91.50 | SL: Rs 88 The analyst from LKP has also selected SJVN Ltd in his stock recommendations. He has given a 'Buy' call on the counter with an upside target of Rs 98 per share. The scrip has slumped 22.82% in a year. "SJVN has given a consolidation breakout on daily timeframe, suggesting a continued upmove. The stock price can hit Rs 98 level in the near term. Support will be at Rs 88," De stated.
LTP: Rs 626.50 | SL: Rs 604 The LKP analyst has included Motilal Oswal Financial Services Ltd (MOFSL) as well in his stock suggestions along with a 'Buy' call. The scrip can scale an upside target of Rs 664, he said. The counter has jumped 67.31% in the past one year. "The stock has given a double bottom breakout on daily timeframe. The stock can move towards Rs 664 level in the short term and support is placed at Rs 604," De mentioned.
"Nifty continues to trade in the green as sentiment favours the bulls, though a significant upside move was limited. In the short term, the trend is likely to remain positive, with a possible consolidation in the next 2-3 days. Support is placed at 22,600. On the higher end, resistance is placed at 23,100-23,150," said Rupak De of LKP Securities.
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