Produced by: Prashun Talukdar
Domestic benchmarks on Thursday continued their upward move, led by gains in state-owned lenders, IT, energy, media and realty stocks. The 30-share BSE Sensex pack climbed 692 points or 0.93 per cent to settle at 75,075 and the broader NSE Nifty index moved 201 points or 0.89 per cent up to end at 22,821. India VIX, fear index, dived 11.04% to 16.80-level.
For June 7 (Friday), an analyst from a domestic brokerage has assigned 'Buy' calls for NMDC, Cummins India and Larsen & Toubro shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 252.95 | SL: Rs 237 An analyst from Prabhudas Lilladher (PL) has given a 'Buy' call on NMDC Ltd shares with a target price of Rs 287. The multibagger scrip has gained 131% in the past one year. "The stock can rise further in the coming days. We suggest buying it for an upside target of Rs 287, keeping stop loss placed at Rs 237," said Shiju Koothupalakkal, Technical Research Analyst at PL.
LTP: Rs 3,525.95 | SL: Rs 3,340 The PL analyst has also selected Cummins India Ltd in his stock recommendations. He has given a 'Buy' call on the counter with a target price of Rs 3,900 per share. The scrip has surged 95.94% in a year. "One can anticipate a further rise in the coming days. We suggest to buy the stock for an upside target of Rs 3,900 with a stop loss of Rs 3,340," Koothupalakkal stated.
LTP: Rs 3,496 | SL: Rs 3,300 The analyst from PL has included Larsen & Toubro Ltd (L&T) as well in his stock suggestions with a 'Buy' call. The counter has jumped 50.98% in the past one year. "With the overall bias maintained strong, we anticipate a further rise and suggest to buy the stock for an upside target of Rs 3,920, keeping stop loss at Rs 3,300 level," Koothupalakkal mentioned.
"Nifty remained range-bound, oscillating between 22,650 and 22,900. The India VIX has slipped sharply below 17 in the last two days, signaling low volatility. In the near-term, the index might continue to trade within the bands of 22,600-23,000," said Rupak De, Senior Technical Analyst, LKP Securities.
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