Produced by: Prashun Talukdar
Domestic benchmarks on Friday scaled their record high levels, led by gains across all sectors. The 30-share BSE pack finally settled 1,619 points or 2.16% higher at 76,693 after hitting a lifetime high of 76,795. The broader NSE Nifty index touched an all-time high of 23,320 before closing 469 points or 2.05% up at 23,290. India VIX, fear index, edged 0.49% up to 16.88-level.
For June 10 (Monday), analysts from a few domestic brokerage have assigned 'Buy' calls for Tata Motors, Granules India and GHCL shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 970 | SL: Rs 949 An analyst from LKP Securities has given a 'Buy' call on Tata Motors Ltd shares with a target price of Rs 1,020. The scrip has surged 71.94% in the past one year. "The stock has given a consolidation pattern breakout on daily charts, suggesting a rise in optimism. In the short term, it has potential to reach Rs 1,020 with support placed at Rs 950," said Rupak De, Senior Technical Analyst at LKP Sec.
LTP: Rs 476.55 | SL: Rs 465 The LKP analyst has also selected Granules India Ltd in his stock recommendations. He has given a 'Buy' call on the counter with a target price of Rs 540 per share. The scrip has soared 70.53% in a year. "one can consider buying the stock above Rs 485 level, keeping a stop loss at Rs 465 for an upside target price of Rs 540," De stated.
LTP: Rs 495.30 | SL: Rs 470 The analyst from Prabhudas Lilladher (PL) has included GHCL in her stock suggestions with a 'Buy' call. The counter has crawled 1.48% up in the past one year. "Currently, with risk-reward looking favourable, we suggest to buy the stock for an upside target of Rs 580. Keep stop loss placed at Rs 470," said Vaishali Parekh, Vice President - Technical Research at PL.
"For Nifty, the short-term trend looks very positive as the index closed near an all-time high. Going forward, the market remains 'buy on dips' as long as 23,000 is not broken. On the higher end, Nifty might move towards 23,500-23,600. On the lower end, profit booking might occur only below 23,000," said Rupak De from LKP Securities.
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