Produced by: Prashun Talukdar
Benchmark indices slumped on Wednesday, dragged by banks, energy, realty, media and automobile stocks. The 30-share BSE Sensex tanked 790 points or 1.08% to close at 72,305 and the broader NSE Nifty index moved 247 points or 1.11% down to close at 21,951. India VIX, fear index, jumped 3.83% to end at 16.33-level.
For February 29 (Thursday), analysts from a few domestic brokerages have assigned 'Buy' calls on Max Financial, Havells and HUL shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 967 | SL: Rs 939 An analyst from LKP Securities has given a 'Buy' call on Max Financial Services Ltd (MFSL) shares with target prices of Rs 1,010-1,030. The scrip has risen 38.22% in the past one year. "MFSL has experienced a downward consolidation breakout on daily charts. The stock indicated resumption of a bullish trend. On the upside, it may move towards Rs 1,010-1,030. Support is situated at Rs 939," said Rupak De, Senior Technical Analyst at LKP Sec.
LTP: Rs 1,528 | SL: Rs 1,500 The analyst from LKP has also selected Havells India shares in his stock recommendations. He has given a 'Buy' call on the counter with a target price of Rs 1,585 per share. The scrip has climbed 25.81% in a year. "Havells has given a swing high breakout on daily charts. On the higher side, it may move towards Rs 1,585. Support will be at Rs 1,500," De stated.
LTP: Rs 2,423.85 | SL: Rs 2,380 An analyst from Prabhudas Lilladher (PL) has suggested a 'Buy' call for Hindustan Unilever Ltd (HUL) shares with a target price of Rs 2,540. The scrip has slipped 1.72% in the past one year. "HUL has witnessed a decent correction. The stock has indicated a trend reversal. We suggest buying it for an initial upside target of Rs 2,540, keeping stop loss placed at Rs 2,380," said Shiju Koothupalakkal, Technical Research Analyst at PL.
"For Nifty, a decline below 21,950 could potentially trigger a correction towards 21,800 in the near term. Conversely, a sustained trade above 21,950 might spur a recovery in the index towards 22,100," said Rupak De from LKP Securities.
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