Produced by: Prashun Talukdar
Domestic benchmarks on Thursday settled with sharp gains after scaling lifetime high levels, led by gains in banks, financials, auto, IT and realty stocks. Headline index NSE Nifty touched an all-time high of 22,994 before settling 370 points or 1.64% higher at 22,968. The 30-share BSE Sensex pack hit a record high of 75,500. It eventually closed 1,197 points or 1.61% higher at 75,418. India VIX, fear index, fell 0.40% to 21.38-level.
For May 24 (Friday), market analyst from a domestic brokerage has assigned 'Buy' calls for Olectra Greentech, Torrent Power and BLS International Services shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 1,807.90 | SL: Rs 1,690 An analyst from Prabhudas Lilladher (PL) has given 'Buy' call on Olectra Greentech Ltd shares with a target price of Rs 2,070. The multibagger scrip has gained 158.97% in the past one year. "With charts looking attractive, we suggest to buy the stock for an upside target of Rs 2,070 with a stop loss of Rs 1,690 level," said Shiju Koothupalakkal - Technical Research Analyst at PL.
LTP: Rs 1,430 | SL: Rs 1,330 The PL analyst has also selected Torrent Power Ltd in his stock recommendations. He has given a 'Buy' call on the counter with a target price of Rs 1,620 per share. The multibagger scrip has zoomed 158.64% in a year. "The charts looks appealing and we suggest to buy the stock for an upside potential target of Rs 1,620, keeping stop loss placed at Rs 1,330 level," Koothupalakkal stated.
LTP: Rs 329.75 | SL: Rs 310 The analyst from PL has included BLS International Services Ltd in his stock suggestions as well with 'Buy' call for a target price of Rs 372. The counter has jumped 94.60% in the past one year. "The stock has indicated a trend reversal to signal a buy with much upside potential visible from current rate. We suggest buying it for an upside target of Rs 372 with a stop loss of Rs 310," Koothupalakkal mentioned.
"Nifty has moved smartly towards 23,000, falling short by just 7 points. The trend looks very strong following the formation of a large green candle on daily charts. On the higher end, the index might move towards 23,500 in the short term. On the lower end, support is placed at 22,800. Strength could remain intact as long as it remains above 22,800," said Rupak De, Senior Technical Analyst at LKP Securities.
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