Stock recommendations by analyst for May 16: Bharti Airtel, BPCL and Angel One
Produced by: Prashun Talukdar
Market recap: Sensex, Nifty settle lower
Domestic benchmarks on Wednesday closed in the red, dragged by banks, financials and automobile stocks. Headline index NSE Nifty fell 17 points or 0.08% to settle at 22,201-level. The 30-share BSE Sensex pack slipped 118 points or 0.16% to end at 72,987. India VIX, fear index, climbed 0.38% to 20.27-level.
Stocks with potential ‘Buy’ calls for May 16
For May 16 (Thursday), market analyst from a domestic brokerage has assigned 'Buy' calls for Bharti Airtel, BPCL and Angel One shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
Airtel share price target
LTP: Rs 1,316 | SL: Rs 1,274 An analyst from LKP Securities has given 'Buy' call on Bharti Airtel Ltd shares with target prices of Rs 1,350-1,385. The scrip has jumped 67.14% in the past one year. "The stock has given a consolidation breakout on daily charts, suggesting a rise in optimism. On the upper end, it could potentially reach Rs 1,350-1,385 levels, while support is positioned at Rs 1,274," said Rupak De, Senior Technical Analyst at LKP Securities.
BPCL share price target
LTP: Rs 626.70 | SL: Rs 600 The LKP analyst has also selected Bharat Petroleum Corporation Ltd (BPCL) in his stock recommendations. He has given a 'Buy' call on the counter with target prices of Rs 650-670 per share. The scrip has surged 72.98% in a year. "The stock is poised for a breakout from consolidation phase. On the higher end, it could potentially reach Rs 650-670 levels with support situated at Rs 600," De stated.
Angel One share price target
LTP: Rs 2,701 | SL: Rs 2,600 The analyst from LKP has included Angel One Ltd in his stock suggestions as well with 'Buy' call for a target of Rs 2,900. The multibagger counter has gained 109.11% in the past one year. "The stock is indicating a positive price trend for the short term. It could potentially reach an upside target of Rs 2,900 with support is positioned at Rs 2,600," De mentioned.
Nifty outlook
"Bulls struggled to push Nifty above the 22,250 mark on a closing basis. Investor sentiment remains subdued as long as it stays below 22,250. A decisive move beyond this level could potentially propel Nifty towards 22,600 and beyond. Conversely, a failure to sustain above 22,200 might invite selling pressure in the market," said Rupak De from LKP Securities.
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