Produced by: Prashun Talukdar
Benchmark indices slipped on Tuesday as consumer, IT and financial shares dragged. The 30-share BSE pack fell 195 points or 0.26% to close at 73,677 and the broader NSE Nifty index moved 49 points or 0.22% down to settle at 22,356. India VIX, fear index, shed 3.63% to end at 14.38-level.
For March 6 (Wednesday), market analysts from a domestic brokerage have assigned 'Buy' calls on Tata Consumer, LIC Housing and Tata Steel shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 1,200 | SL: Rs 1,164 Analysts from Religare Broking have given a 'Buy' call on Tata Consumer Products shares with a target price of Rs 1,275. The scrip has jumped 68.16% in the past one year. "The stock has been in a steady uptrend for the past four months. And, the bullish tone expected to continue," the brokerage said.
LTP: Rs 657.25 | SL: Rs 635 Religare has also selected LIC Housing Finance shares in its stock recommendations. It has given a 'Buy' call on the counter with a target price of Rs 705 per share. The scrip has gained 82.57% in a year. "The stock has been in a steady uptrend for over six months. It looks set for a breakout now. Traders should utilise this opportunity to create fresh longs," the brokerage stated.
LTP: Rs 152 | SL: Rs 144 Analysts from Religare have included Tata Steel shares in its stock picks as well with a 'Buy' call for a target of Rs 176. The counter has risen 43.87% in the past one year. "We are seeing a renewed buying interest in the metal pack and Tata Steel is leading from the front. Traders can consider adding fresh longs in the mentioned range," the brokerage mentioned.
"Going ahead, we expect Nifty to gradually inch higher towards 22,800, followed by 23,000 level. While on the flip side, 22,100 and 21,850 zones would provide cushion for the index in the near term," Religare said.
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