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Benchmark indices on Friday settled in the green, led by gains in IT and automobile stocks. The 30-share BSE Sensex pack rose 179 points or 0.25% to settle at 72,026, while the broader NSE Nifty index moved 52 points or 0.24% up to close at 21,711. India VIX, fear index, fell 5.25% to 12.63-level.
For January 8 (Monday), share market analysts from a few domestic brokerages have assigned 'Buy' calls on Reliance Industries, Bajaj Finance and Jindal Saw. Check share price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 450.50 | SL: Rs 429 An analyst from Prabhudas Lilladher (PL) has given a 'Buy' call on Jindal Saw shares with a target price of Rs 517. The multibagger stock has rallied 298.32% in the past one year. "The stock is looking attractive on daily charts. We suggest to buy and accumulate the stock for an upside target of Rs 517, keeping the stop loss near Rs 429 level," said Shiju Koothupalakkal, Technical Research Analyst at PL.
LTP: Rs 2,609 | SL: Rs 2,525 An analyst from LKP Securities has selected Reliance Industries Ltd (RIL) shares in his stock recommendations. The brokerage has given a 'Buy' call on the counter with target prices of Rs 2,760-2,900 per share. The stock has climbed 0.47% in a year. "As per the current breakout, there's a technical expectation of reaching levels around Rs 2,760 to Rs 2,900 on the upside. To manage risk effectively, it's recommended to maintain a stop-loss at Rs 2,525 on a closing basis. For potential investors, a favourable entry point is at the current market price (CMP) and on dips around Rs 2,580," said Kunal Shah, Senior technical and Derivative analyst at LKP.
LTP: Rs 7,708.05 | SL: Rs 7,500 The LKP analyst has included Bajaj Finance Ltd shares in his stock picks with a 'Buy' call for targets of Rs 8,000-8,300. The multibagger scrip has risen 28.61% in the past one year. "Based on the current breakout, there is a technical expectation of reaching levels around Rs 8,000 to Rs 8,300 on the upside. To manage risk effectively, it is advisable to maintain a stop-loss at Rs 7,500 on a closing basis. For potential investors, a good buying entry point is at the current market price (CMP) and on dips around Rs 7,660." Kunal Shah stated.
"Following a rapid rebound from its positional support at 21,500, bullish activity has resumed in the market with buying interest evident during dips. The prevailing sentiment is bullish, but Nifty encounters initial resistance at 21,750, facing selling pressure. Immediate support rests at 21,600. A conclusive close above 21,750 levels could propel Nifty towards the 22,000 mark, signaling further upward movement," said Kunal Shah from LKP.
Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position.