Produced by: Prashun Talukdar
Domestic benchmarks on Tuesday settled with decent gains, led by strong buying interest across all sectors. The 30-share BSE Sensex pack soared 1,131 points or 1.53% to finish at 75,301. The broader NSE Nifty index climbed 326 points or 1.45% to end at 22,834. India VIX, fear index, shed 1.52% to 13.21-level.
For March 19 (Wednesday), analysts from a domestic brokerage assigned 'Buy' calls on Tata Power, HDFC Bank and NTPC shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 363 | SL: Rs 351 Analysts from Religare Broking have given a 'Buy' call on Tata Power Company Ltd shares with a target price of Rs 388. The scrip has slipped 7.57% in the past one year. "Power stocks have staged a strong recovery. Tata Power, in particular, is reflecting strength in its chart structures. One can initiate fresh positions at current levels with the mentioned stop loss," the brokerage said.
LTP: Rs 1,735.60 | SL: Rs 1,705 Religare analysts have also selected HDFC Bank Ltd in their stock recommendations. They have given a 'Buy' call on the counter with an upside target of Rs 1,785 per share. The scrip has risen 20.02% in a year. "HDFC Bank's stock is poised to reclaim new highs soon. Traders may consider accumulating within the suggested range," the domestic broking firm stated.
LTP: Rs 337.40 | SL: Rs 326 Analysts have included Bank of NTPC Ltd as well in their stock suggestions with a 'Buy' call. The stock can hit an upside target of Rs 359, they said. The counter has edged up 6.38% in the past one year. "NTPC has shown a notable recovery after consolidating for nearly a month. Traders may consider buying the stock within the recommended range," the broking firm mentioned.
"Looking ahead, Nifty is eyeing for the 23,100 level. However, global factors such as the US Federal Reserve meeting and geopolitical uncertainties may introduce intermittent volatility. A 'buy-on-dip' strategy remains prudent, with a focus on sectors/themes that align with the prevailing market trend," said analysts at Religare Broking.
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.