Produced by: Prashun Talukdar
Domestic benchmarks closed in the red on Tuesday as automobile, FMCG and IT stocks dragged. The 30-share BSE Sensex pack fell 96 points or 0.13% to finish at 72,990. The broader NSE Nifty index shed 37 points or 0.17% to end at 22,083, taking its losing run to the 10th straight session. India VIX, fear index, rose 0.49% to 13.83-level.
For March 5 (Wednesday), analysts from a domestic brokerage assigned 'Buy/Sell' calls on HDFC Bank, JSW Energy and Mahanagar Gas shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 1,711.30 | SL: Rs 1,660 Analysts from Religare Broking have given a 'Buy' call on HDFC Bank Ltd shares with a target price of Rs 1,820. The scrip has risen 19.45% in the past one year. "Among the leading private banks, HDFC Bank is displaying strong resilience. After breaking out from a broad consolidation phase, the stock approached its all-time high, but profit booking capped further gains. It has now rebounded towards the upper band of its range, forming a fresh buying pivot. The stock's strength during this corrective phase instils confidence, making it a potential accumulation candidate within the specified range," the brokerage said.
LTP: Rs 481.40 | SL: Rs 465 Religare analysts have also selected JSW Energy Ltd in their stock recommendations. They have given a 'Buy' call on the counter with an upside target of Rs 510 per share. However, the scrip has shed 6.87% in a year. "The stock is signaling a potential trend reversal. The base formation, accompanied by strong volumes, indicates accumulation at lower levels. Traders may consider fresh positions within the specified range," the domestic brokerage stated.
LTP: Rs 1,213 | SL: Rs 1,250 Analysts have included Bank of Mahanagar Gas Ltd (MGL) in their stock suggestions but with a "Sell futures" call. The stock can hit a downward target of Rs 1,160, they said. The counter has slipped 21.32% in the past one year. "The scrip has breached its recent consolidation range, confirming a breakdown from a bearish flag pattern. Traders may consider initiating short positions based on the specified levels," the broking firm mentioned.
"Weak global cues continue to weigh on sentiment, but selective buying is limiting the downside. We maintain a cautious outlook on Nifty50, with key support at the 21,800-22,000 zone. Among sectors, banking, financials, and metals are exhibiting relative strength, while others present a mixed trend. Traders should align their positions accordingly while managing risk with prudent position sizing," said analysts at Religare Broking.
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