Stock recommendations by analyst for May 22: RailTel Corporation, Shipping Corp and BPCL
Produced by: Prashun Talukdar
Market recap: Sensex, Nifty settle mixed
Domestic benchmarks on Tuesday closed on a mixed note as losses in financials and consumer good stocks countered gains in metals and PSU banks. Headline index NSE Nifty rose 27 points or 0.12% to settle at 22,529-level. In contrast, the 30-share BSE Sensex pack fell 53 points or 0.07% to end at 73,953. India VIX, fear index, jumped 6.26% to 21.81-level.
Stocks with potential 'Buy' calls for May 22
For May 22 (Wednesday), market analysts from a domestic brokerage have assigned 'Buy' calls for RailTel Corporation, Shipping Corp and BPCL shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
RailTel Corporation share price target
LTP: Rs 434 | SL: Rs 408 Analysts from Religare Broking have given 'Buy' call on RailTel Corporation of India Ltd shares with a target price of Rs 475. The multibagger scrip has gained 261.82% in the past one year. "We are witnessing a decent traction in railway stocks and RailTel is offering fresh buying opportunity. We believe that the stock is set to challenge its previous swing high. We advise traders to accumulate the stock in the given range," the brokerage said.
Shipping Corp share price target
LTP: Rs 238.50 | SL: Rs 226 Religare analysts have also selected Shipping Corporation of India Ltd in their stock recommendations. They have given a 'Buy' call on the counter with a target price of Rs 258 per share. The multibagger scrip has surged 152.11% in a year. "The stock has now registered a breakout, which indicates that Shipping Corp can resume its prior uptrend. Traders can consider fresh buying in the mentioned range," the brokerage stated.
BPCL share price target
LTP: Rs 645 | SL: Rs 152 Analysts from Religare have included Bharat Petroleum Corporation Ltd (BPCL) in their stock suggestions as well with 'Buy' call for a target of Rs 682. The counter has jumped 78.37% in the past one year. "BPCL has been trading in a corrective phase after hitting a record high of Rs 688. We believe that the stock is set to register a breakout and surpass its previous swing high. Traders can consider fresh buying," the brokerage mentioned.
Nifty outlook
"Nifty has been gradually inching higher after a strong pullback from the lower end. Though volatility paved its way throughout the week given the election era, the index has managed to close higher for four consecutive sessions. Going ahead, sustenance above 22,500 would propel the next leg of upmove towards 22,800 and 22,950 levels. One should remain positively biased with 'buy on dips' being prudent approach," Religare Broking said.
Disclaimer
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