Produced by: Prashun Talukdar
Domestic benchmarks staged a strong rebound on Wednesday, led by gains across all sectors. The 30-share BSE Sensex pack climbed 2,303 points or 3.20 per cent to settle at 74,382 and the broader NSE Nifty index moved 736 points or 3.36 per cent up to end at 22,620. India VIX, fear index, dived 29.39% to 18.89-level.
For June 6 (Thursday), an analyst from a domestic brokerage has assigned 'Buy' calls for Hero MotoCorp, Britannia and Zydus Life shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 5,625 | SL: Rs 5,300 An analyst from Prabhudas Lilladher (PL) has given a 'Buy' call on Hero MotoCorp Ltd shares with a target price of Rs 6,300. The scrip has surged 93.65% in the past one year. "With the current trend looking strong, we suggest to buy the stock for an upside target of Rs 6,300 level, keeping stop loss placed at Rs 5,300," said Shiju Koothupalakkal, Technical Research Analyst at PL.
LTP: Rs 5,474 | SL: Rs 5,050 The PL analyst has also selected Britannia Industries Ltd in his stock recommendations. He has given a 'Buy' call on the counter with a target price of Rs 6,100 per share. The scrip has climbed 16.33% in a year. "The stock has potential to carry on with the positive move further ahead. We suggest to buy it for an upside target of Rs 6,100 with a stop loss at Rs 5,050," Koothupalakkal stated.
LTP: Rs 1,048.75 | SL: Rs 970 The analyst from PL has included Zydus Lifesciences Ltd as well in his stock suggestions with a 'Buy' call. The multibagger counter has gained 103.46% in the past one year. "With charts looking good and much upside potential visible from current rates, we suggest to buy the stock for an upside target of Rs 1,270, keeping a stop loss of Rs 970," Koothupalakkal mentioned.
"Nifty has shown a sharp recovery. If the index sustains above 22,500, a buy-on-dip approach is advisable. Currently, 22,400 acts as support, while 22,800 serves as initial resistance for Nifty," said Rupak De, Senior Technical Analyst, LKP Securities.
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