Produced by: Prashun Talukdar
Domestic benchmarks settled on a flat note on Tuesday as losses in energy and media stocks countered gains in IT and banks. The 30-share BSE Sensex edged up 2 points or 0.00% to close at 81,510 while the broader NSE Nifty shed 9 points or 0.04% to end at 24,610. India VIX, fear index, fell 2.33% to 13.78-level.
For December 11 (Wednesday), analysts from a domestic brokerage assigned 'Buy' calls on Cholamandalam Investment, PNB and Mphasis shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 1,339.85 | SL: Rs 1,300 Analysts from Religare Broking have given a 'Buy' call on Cholamandalam Investment and Fin Co Ltd shares with a target price of Rs 1,410. The scrip has climbed 14.01% in the past one year. "A notable recovery is evident in select NBFC stocks, with Cholamandalam Fin poised for a catch-up rally. There is a potential for new upward phase, offering an opportunity to initiate fresh positions," the brokerage said.
LTP: Rs 110.95 | SL: Rs 106 Religare analysts have also selected Punjab National Bank (PNB) in their stock recommendations. They have given a 'Buy' call on the counter with an upside target of Rs 120 per share. The scrip has risen 25.44% in a year. "After undergoing a corrective phase for over seven months, the stock is now exhibiting signs of a reversal. Traders can consider initiating positions for a near-term upside target of Rs 120," the domestic brokerage stated.
LTP: Rs 3,179.45 | SL: Rs 3,050 Analysts have included Mphasis Ltd as well in their stock suggestions with a 'Buy' call. The stock can hit an upside target of Rs 3,450, they said. The counter has gained 30.67% in the past one year. "The IT sector has shown robust performance and Mphasis is moving in alignment with this trend. We anticipate this momentum to persist, with the stock likely to test its record high levels in the near future," the broking firm mentioned.
"Despite the prevailing consolidation in Nifty, the continued buoyancy in mid- and small-cap stocks is encouraging. Additionally, rotational participation across most sectors is sustaining the positive sentiment during this phase. Traders should maintain a stock-specific approach, focusing on long positions unless the index decisively breaks below 24,300 level," said analysts at Religare Broking.
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