Produced by: Prashun Talukdar
Benchmark indices on Tuesday continued their upward move for the sixth straight session, led by gains in banks, financials and media stocks. The 30-share BSE Sensex rose 349 points or 0.48% to close at 73,057 and the broader NSE Nifty index moved 75 points or 0.34% up to close at 22,197. During intraday trade, Nifty50 touched its fresh record high of 22,215.60. India VIX, fear index, edged 0.34% higher to end at 16.07-level.
For February 21 (Wednesday), analysts from a domestic brokerage have assigned 'Buy' calls on Gujarat Alkalies, Punjab National Bank (PNB) and SBI Life Insurance shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 819.40 | SL: Rs 788 Analysts from Religare Broking have given a 'Buy' call on Gujarat Alkalies and Chemicals Ltd shares with a target price of Rs 900. The multibagger scrip has risen 24.69% in the past one year. "The stock has ended a long corrective phase. It has registered a breakout along with noticeable volumes. Traders can consider taking positions in the mentioned range," Religare stated.
LTP: Rs 129.50 | SL: Rs 124 Domestic brokerage Religare has also selected Punjab National Bank (PNB) shares in its stock recommendations. The brokerage has given a 'Buy' call on the counter with a target price of Rs 142 per share. The multibagger scrip has zoomed 164.02% in a year. "PNB has been in primary uptrend for the last five months and is currently trading at a 52-week high level. It is expected that the bullish tone may continue," it stated.
LTP: Rs 1,515 | SL: Rs 1,465 Religare has suggested a 'Buy' call for SBI Life Insurance shares as well with a target price of Rs 1,590. The scrip has climbed 31.70% in the past one year. "The stock has been in a steady uptrend for the last 10 months and is currently trading at its record high level. It has given a fresh breakout along with strong volumes. And, the bullish tone is likely to continue," the brokerage mentioned.
"Nifty has finally registered a breakout from the consolidation range (21,500-22,150), indicating a bullish signal for the short term. If the index holds the breakout successfully, we expect the index to inch higher towards 22,500, followed by 22,750 level. In contrast, 22,000-21,750 would offer cushion to Nifty in the near term," Religare suggested.
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