Produced by: Prashun Talukdar Designed by: Manoj Kumar
Benchmark indices on Tuesday settled almost flat as losses in banks and financials countered gains in metal and pharma shares. The 30-share BSE Sensex edged 31 points or 0.04% higher to settle at 71,386, while the broader NSE Nifty index moved 32 points or 0.15% up to close at 21,545. India VIX, fear index, fell 1.48% to 13.26-level.
For January 10 (Wednesday), share market analysts from a domestic brokerage have assigned 'Buy' calls on Manappuram Finance, Biocon and Emami. Check share price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 177.30 | SL: Rs 171 Analysts from Religare Broking have given a 'Buy' call on Manappuram Finance shares with a target price of Rs 193. The stock has jumped 46.77% in the past one year. "Manappuram Finance has been gradually inching higher. It has formed a series of higher high. From past three weeks, the stock has been consolidating in a range and gave a price breakout from the same holding above the key moving averages, i.e. 20-day moving average," Religare stated.
LTP: Rs 280.95 | SL: Rs 264 Religare has also selected Biocon Ltd shares in its stock recommendations. The brokerage has given a 'Buy' call on the counter with a target price of Rs 313 per share. The stock has climbed 8.94% in a year. "We are seeing decent traction in the pharma counters and Biocon is also trading in tandem, after months of underperformance. It is taking a breather post fresh breakout from a potential bullish cup & handle price pattern along with strong volumes," it mentioned.
LTP: Rs 548.40 | SL: Rs 528 Religare has included Emami Ltd shares in its stock picks as well with a 'Buy' call for a target of Rs 600. The scrip has risen 29.10% in the past one year. "The stock is likely to witness some consolidation before the next leg of up move. Traders should uitilise this opportunity to create fresh longs," the brokerage said.
"After the recent surge, Nifty is consolidating in the tight defined range from the last few sessions wherein 21,800 is acting as the upper end and 21,500 being lower end of the range. Going forward, a break on either side of the range would further dictate the momentum in the trend. A decisive close above 21,800 would open the way towards the 22,150 zone. On the other hand, a breakdown below 21,500 would attract fresh selling pressure dragging index lower towards 21,250, followed by 21,100 zone," Religare stated.
Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position.