Produced by: Prashun Talukdar Designed by: Manoj Kumar
Domestic benchmarks settled in the red on Friday, dragged by banks, financials and energy stocks. The 30-share BSE Sensex pack fell 188 points or 0.28 per cent to close at 65,795, while the broader NSE Nifty index moved 33 points or 0.17 per cent down to end the session at 19,732. India VIX, fear index, rose 1.54% to 11.83-level.
For November 20 (Monday), share market analysts from a few domestic brokerages have assigned 'Buy' calls on Nykaa, IRCTC, Birla Corporation and SBI Life Insurance. Check share price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 168.55 | SL: Rs 155 Án analyst at Prabhudas Lilladher has given an 'Buy' call on Reliance Industries shares with target price of Rs 182-194 levels. The stock has climbed 8.64% in 2023 so far and 32.87% in last six months.
"Next visible target on the counter could be Rs 182-194 levels in the coming days. The near-term support would be maintained at Rs 155 with overall bias maintained strong," said Shiju Koothupalakkal - Technical Research Analyst, Prabhudas Lilladher (PL).
LTP: Rs 706.60 | SL: Rs 680 A market expert from Prabhudas Lilladher (PL) has selected IRCTC (Indian Railway Catering and Tourism Corporation) in his stock recommendations. The analyst has given a 'Buy' call on the counter with target prices of Rs 740-750 per share. The multibagger stock has risen 10% on a year-to-date (YTD) basis and 13.33% in six months.
"IRCTC stock has recently exhibited a strong breakout on daily charts, surpassing a falling trendline with a notable surge in volumes, indicating the potential for further upward movement in the near term. The scrip has found support at its 20-day moving average (20-DMA) positioned at Rs 680, with upside potential targets set at Rs 740 and Rs 750," said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
LTP: Rs 1,310.05 | SL: Rs 1,250 The analyst from LKP Securities has also included Birla Corporation too in his technical bets with a 'Buy' call for target of Rs 1400-1480. The scrip has surged 32.19% up in 2023 so far and 32.80% in the past six months.
"The stock has a visible support level at Rs 1,250, coinciding with its 20-DMA and the anticipated upside potential targets are at Rs 1,400 and Rs 1,480. This data suggests a positive outlook for Birla Corp stock as it approaches a significant breakout," Shah stated.
LTP: Rs 1,413.70 | SL: Rs 1,325 The expert from LKP has picked SBI Life Insurance Company in his technical bets as well with a 'Buy' call for target of Rs 1,550-1,600. The scrip has gained 14% up in 2023 so far and 22.84% in the past six months.
"The stock has a support level at Rs 1,325, coinciding with its 20-DMA while the potential upside targets are set at Rs 1,550 and Rs 1,600. This data suggests a positive outlook for SBI Life," said Shah from LKP stated.
"We suggest continuing with positive bias until Nifty breaches 19,450 and prefer sectors other than banking and financials for long trades," said Ajit Mishra, SVP - Technical Research at Religare Broking.
"Nifty Bank's next support is situated at the 43,300-43,250 zone, serving as a crucial line of defense for the bulls. If this level holds, it could pave the way for a potential recovery towards the 44,000 mark. However, a breach of the mentioned support may intensify selling pressure, leading the index further down towards the 42,700 level on the downside," said Kunal Shah from LKP Securities.
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.