Produced by: Prashun Talukdar
Domestic benchmarks on Wednesday settled with sharp cuts, dragged by metals, IT, pharma, consumer, automobile and energy stocks. The 30-share BSE pack plunged 617 points or 0.83% to end at 73,886 and the broader NSE Nifty index moved 216 points or 0.95% down to end at 22,489. India VIX, fear index, remained unchanged at 24.18-level.
For May 31 (Friday), market analyst from a domestic brokerage has assigned 'Buy' calls for Mahindra Logistics, Bata India and HUDCO shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 436.50 | SL: Rs 420 An analyst from Prabhudas Lilladher (PL) has given 'Buy' call on Mahindra Logistics Ltd shares with a target price of Rs 487. The scrip has risen 21.22% in the past one year. "We suggest to buy the stock for an upside target of 487 keeping stop loss placed at Rs 420 level," said Shiju Koothupalakkal, Technical Research Analyst at PL.
LTP: Rs 1,372 | SL: Rs 1,300 The PL analyst has also selected Bata India Ltd in his stock recommendations. He has given a 'Buy' call on the counter with a target price of Rs 1,580 per share. The scrip has slipped 13.39% in a year. "The stock has taken support near the Rs 1,295 zone With charts looking good, we suggest to buy it for an upside target of Rs 1,580, keeping stop loss at Rs 1,300," Koothupalakkal stated.
LTP: Rs 261.60 | SL: Rs 248 Analyst from PL has included Housing And Urban Development Corp Ltd (HUDCO) as well in his stock suggestions with a 'Buy' call for a target of Rs 300. The multibagger counter has zoomed 357.74% in the past one year. "The stock has again has shown an improvement to carry on with the positive move further ahead. We suggest to buy it for an upside target of Rs 300 with stop loss placed at Rs 248," Koothupalakkal mentioned.
"If Nifty breaks below, the next support levels will be near 22,300-22,000. The levels of 22,800-23,000 will act as immediate resistance, said Mandar Bhojane, research analyst at Choice Broking.
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