Produced by: Prashun Talukdar
Domestic benchmarks on Friday closed on a positive note, led by gains in automobile, consumer, metals, pharma and energy stocks. Headline index NSE Nifty rose 98 points or 0.44% to settle at 22,055-level. The 30-share BSE Sensex pack moved 260 points or 0.36% higher to end at 72,664. India VIX, fear index, climbed 1.49% to 18.47-level.
For May 13 (Monday), market analyst from a domestic brokerage has assigned 'Buy' calls for Indus Towers, EIH and Bata India shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 332.75 | SL: Rs 322 An analyst from LKP Securities has given 'Buy' call on Indus Towers Ltd shares with a target price of Rs 354. The multibagger scrip has gained 121.24% in the past one year. "The recent positive move was preceded by a sharp correction in the price. Over the short term, the stock might move towards Rs 354. Support is placed at Rs 322," said Rupak De, Senior Technical Analyst at LKP Securities.
LTP: Rs 488.15 | SL: Rs 469 The LKP analyst has also selected EIH Ltd in his stock recommendations. He has given a 'Buy' call on the counter with a target price of Rs 520 per share. The multibagger scrip has surged 154.78% in a year. "The trend appears to be bullish in the short term. Over this period, the stock might move towards Rs 520, with support positioned at Rs 469," De stated.
LTP: Rs 1,309.40 | SL: Rs 1,259 The analyst from LKP has included Bata India Ltd in his stock suggestions as well with 'Buy' call for a target of Rs 1,450. The counter has slipped 15.04% in the past one year. "The current technical set up indicates that the stock might recover over the short term. Over this period, it may move towards Rs 1,450, with support positioned at Rs 1,259," De mentioned.
"For Nifty, the trend is likely to remain weak in the near term, with resistance at 22,200. As long as the index remains below this level, a strategy of selling on rallies may be favorable for traders. Support is situated at 21,950 on a sustained basis. A decisive drop below this level could trigger panic in the market," said Rupak De from LKP Securities.
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