Produced by: Prashun Talukdar
Domestic benchmarks on Tuesday touched their fresh all-time levels, led by gains in banks, financials and consumer durable stocks. The 30-share BSE Sensex pack scaled a fresh peak of 77,367 during intraday deals. It eventually settled 308 points or 0.40 per cent higher at 77,301. The broader NSE Nifty index hit an all-time high of 23,579 before closing 92 points or 0.39 per cent up at 23,558. India VIX, fear index, rose 1.11% to 12.97-level.
For June 19 (Wednesday), analysts from a domestic brokerage have assigned 'Buy' calls for L&T Finance, Century Plyboards and Gujarat Narmada shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 180 | SL: Rs 175 Analysts from Religare Broking have given a 'Buy' call on L&T Finance Ltd shares with a target price of Rs 192. The scrip has climbed 7.24% in the past one year. "LTF has recorded fresh decisive breakout from the prolonged consolidation which continued for more than five months. Traders can consider taking positions in the stock," the brokerage said.
LTP: Rs 724.50 | SL: Rs 690 Religare analysts have also selected Century Plyboards (India) Ltd in their stock recommendations. They have given a 'Buy' call on the counter with a target price of Rs 795 per share. The scrip has risen 16.82% in a year. "The stock has been in a strong uptrend. We believe it is set to inch higher and challenge its previous swing high soon. Traders can consider initiating positions in the counter," the brokerage stated.
LTP: Rs 703.70 | SL: Rs 670 Analysts at Religare have included Gujarat Narmada Valley Fertilizers & Chemicals Ltd as well in their stock suggestions with a 'Buy' call. One can expect a target of Rs 770 in the near term. The counter has gained 19.59% in the past one year. "We are seeing decent traction in the fertiliser stocks, and GNFC is offering fresh buying opportunity with favorable risk-reward," the brokerage mentioned.
"Nifty has managed to close with incremental gains, giving a hint of positivity in the trend. Thus, going ahead, a decisive close above 23,600 could fuel an up move toward the 24,000 zone. Therefore, we recommend maintaining a 'buy-on-dips' strategy and focusing on stocks which are yielding better results like agri. related, sugar, chemicals and select defense counters for long trades," Religare said.
Business Today provides stock market news for informational purposes only and that should not be construed as investment advice. Readers are encouraged to consult a qualified financial advisor before making any investment decisions.