Produced by: Prashun Talukdar
Indian equity benchmarks slipped on Monday as banks, financials and energy shares dragged. The 30-share BSE Sensex pack fell 112 points or 0.15% to finish at 73,086. The broader NSE Nifty index shed 5 points or 0.02% to end at 22,119, taking its losing run to the ninth straight session. India VIX, fear index, dropped 1.06% to 13.76-level.
For March 4 (Tuesday), an analyst from a domestic brokerage assigned 'Buy' calls on Bajaj Finance, Hindalco and SRF shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 8,647 | SL: Rs 8,350 The LKP Securities analyst has given a 'Buy' call on Bajaj Finance Ltd shares with a target price of Rs 9,200. The scrip has risen 30.97% in the past one year. "Traders can consider buying at current levels, with a stop loss placed at Rs 8,350 to manage risk. The stock has potential to move towards Rs 9,200 level in the near term," said Vatsal Bhuva, Technical Analyst at LKP Sec.
LTP: Rs 638.20 | SL: Rs 616 The analyst from LKP has also selected Hindalco Industries Ltd in his stock recommendations. He has given a 'Buy' call on the counter with an upside target of Rs 665 per share. The scrip has climbed 21.57% in a year. "Traders can initiate fresh positions at current levels, keeping stop loss at Rs 616. The stock has potential to move towards Rs 660," Bhuva stated.
LTP: Rs 2,826.80 | SL: Rs 2,745 The LKP analyst has included SRF Ltd as well in his stock suggestions with a 'Buy' call. The scrip can hit an upside target of Rs 2,950, he said. The counter has moved up 18.97% in the past one year. "Traders should consider buying on dips in the Rs 2,800-2,826 range with a stop loss of Rs 2,745. The stock has potential to hit Rs 2,950 level," Bhuva mentioned.
"Nifty found support around 22,000 level. However, the broader trend remains bearish, favouring a 'sell-on-rise' approach unless the index decisively closes above 22,600. Immediate resistance is at 22,300, while key support stands at 22,000. If this support is breached on a closing basis, the next support lies at 21,800," said Vatsal Bhuva of LKP Securities.
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