Produced by: Prashun Talukdar
On Wednesday, Indian equity benchmarks witnessed a sharp recovery amid a broad-based buying interest. The 30-share BSE Sensex pack climbed 740 points or 1.01% to finish at 73,730. The broader NSE Nifty index surged 255 points or 1.15% to end at 22,337, pausing its 10-session losing run. India VIX, fear index, shed 1.15% to 13.67-level.
For March 6 (Thursday), an analyst from a domestic brokerage assigned 'Buy' calls on PI Industries, Lloyds Metals and Laurus Labs shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 3,150 | SL: Rs 3,050 The LKP Securities analyst has given a 'Buy' call on PI Industries Ltd shares with a target price of Rs 3,400. The scrip has fallen 13.28% in the past one year. "The trend is likely to remain positive in the short term, with the potential to reach Rs 3,400 level. On the lower end, support is placed at Rs 3,050," said Rupak De, Senior Technical Analyst at LKP Sec.
LTP: Rs 1,033.95 | SL: Rs 984 The analyst from LKP has also selected Lloyds Metals And Energy Ltd in his stock recommendations. He has given a 'Buy' call on the counter with an upside target of Rs 1,100 per share. The scrip has gained 70.87% in a year. "The counter is expected to stay positive for the near term and hit an upside target of Rs 1,100. Support is placed at Rs 984," De stated.
LTP: Rs 567.20 | SL: Rs 545 The LKP analyst has included Laurus Labs Ltd as well in his stock suggestions with a 'Buy' call. The scrip can hit an upside target of Rs 620, he said. The counter has moved up 35% in the past one year. "It has given a consolidation breakout on the daily timeframe. On the higher end, the stock might move towards Rs 620 level in the short term, while support is placed at Rs 545," De mentioned.
"Nifty witnessed a solid rebound as the 21,800-22,000 zone provided strong support. The index has moved up after two days of sideways trading. In the short term, the trend is likely to remain strong, with the potential to rise beyond the 22,700 range. On the lower end, support is placed at the 22,100-22,000 range," said Rupak De of LKP Securities.
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