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Domestic benchmarks settled higher on Sunday during the special 'Muhurat' session. The 30-share BSE Sensex pack surged 355 points or 0.55 per cent to close at 65,259, while the broader NSE Nifty index moved 100 points or 0.52 per cent up to end the session at 19,526. India VIX, fear index, rose 2.16% to 11.35-level.
For November 13 (Monday), share market analyst from a brokerage has assigned 'Buy' calls on NDMC, NDMC, Bharat Electronics and Lemon Tree. Check share price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 173 | SL: Rs 160 Án analyst at LKP Securities has given an 'Buy' call on NMDC shares with a target price of Rs 180. The stock has risen 37.25% in 2023 so far and 62.06% in last six months.
"NMDC stock is exhibiting a strong uptrend, forming higher highs and higher lows on the daily chart. The Relative Strength Index (RSI) shows a bullish crossover. With a suggested entry range of Rs 165-167, a long position is recommended, targeting Rs 180 on the upside, while maintaining a stop loss at Rs 160 to mitigate downside risks. This technical analysis indicates a favorable outlook," said Rupak De, Senior Technical Analyst at LKP Securities.
LTP: Rs 139.50 | SL: Rs 117 De from LKP has also selected Bharat Electronics Ltd (BEL) in his stock recommendations. The analyst has given a 'Buy' call on the counter with target prices of Rs 167-183 per share. The stock has gained 39.15% on a year-to-date (YTD) basis and 29.59% in six months.
"The stock has been consistently rising and forming higher highs and higher lows on the weekly timeframe, indicating a long-term bullish setup. The trend is expected to continue as long as it adheres to this pattern. During the recent correction, the stock dipped to the 21-day Exponential Moving Average (EMA) and quickly rebounded, highlighting a robust demand at lower levels. In the short term, the stock is likely to advance towards the Rs 183 mark. On the downside, there is strong support at Rs 117," said Rupak De.
LTP: Rs 115.40 | SL: Rs 99 Analyst from LKP Sec has included Lemon Tree Hotels Ltd in his technical bets with a 'Buy' call for target of Rs 135-145. The scrip has jumped 37.30% in 2023 so far but 28.15% in the past six months.
"The stock recently found support at the previous consolidation high before the recent rally. Furthermore, the stock price has consistently remained above a crucial moving average. On a shorter timeframe, the stock has broken out of a consolidation pattern. It could potentially reach 145 on the upside, with strong support at Rs 99 on the downside," De stated.
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.