Stock recommendations by analysts for May 29: Power Finance Corp, Chambal Chambal Fertilisers and Granules India
Produced by: Prashun Talukdar
Market recap: Sensex, Nifty settled lower
Domestic benchmarks on Tuesday closed in the red, dragged by PSU banks, realty and energy stocks. The 30-share BSE pack fell 220 points or 0.29% to end at 75,170 and the broader NSE Nifty index moved 44 points or 0.19% down to end at 22,888. India VIX, fear index, jumped 4.32% to 24.20-level.
Stocks with potential 'Buy' calls for May 29
For May 29 (Wednesday), market analysts from a domestic brokerage have assigned 'Buy' calls for Power Finance Corp, Chambal Fertilisers and Granules India shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
Power Finance Corp share price target
LTP: Rs 514.55 | SL: Rs 491 An analyst from LKP Securities has given 'Buy' call on Power Finance Corporation Ltd shares with a target price of Rs 560. The multibagger scrip has soared 269.01% in the past one year. "The stock has registered a fresh breakout from the bullish price pattern. Following price pattern and uptick in volumes, it indicates that the bullish tone can continue," Religare said.
Chambal Fertilisers share price target
LTP: Rs 404.15 | SL: Rs 390 Religare analysts have also selected Chambal Fertilisers and Chemicals Ltd in his stock recommendations. They have given a 'Buy' call on the counter with a target prices of Rs 440 per share. The scrip has climbed 41.41% in a year. "The stock is offering fresh buying opportunity. It has started inching higher now and likely to surpass the previous swing high soon," Religare stated.
Granules India share price target
LTP: Rs 434.40 | SL: Rs 418 Analysts from Religare Broking have included Granules India Ltd in his stock suggestion with a 'Buy' call for a target of Rs 472. The counter has gained 54.40% in the past one year. "The stock has been in a corrective phase after hitting record high levels. It has registered a breakout from the falling resistance trendline with supportive volumes suggests potential shift in trend," Religare mentioned.
Nifty outlook
"Nifty is now witnessing some profit booking amid consolidation at higher levels. Currently, it is facing resistance at 23,100. A decisive break above this level may trigger further upmove or else consolidation is likely to continue. One can utilise any dip around 22,750-22,850 levels as a buying opportunity," Religare Broking said.
Disclaimer
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