Stocks that share market analysts recommended on August 23, 2023: Dabur India, Hindalco Industries, GAIL India
Produced by: Harshita Tyagi
Designed by: Manoj kumar
Domestic equity indices settled flat on Tuesday. BSE Sensex inched 3.94 points, or 0.01% up to settle at 65,220.03, while NSE's Nifty added only 2.85 points, or 0.01% to end the day at 19,396.45.
Nifty, Sensex ended flat
“Nifty has respected the short-term moving average i.e. 50 EMA twice of late, which currently lies around 19250 and its break could push the index to 19,100 first and then to the 18,900 level. In case of a rebound, it would face hurdles around 19,500 i.e. 20 EMA and 19,650 level,” said Religare Broking.
Nifty Outlook
“The banking index has been continuing its underperformance and currently hovering around the crucial support zone of medium-term moving average i.e. 100 EMA. We are expecting the 42,800-43,300 zone to offer a cushion in case the profit-taking extends further. On the higher side, the 44,500-45,000 zone would be tough to cross citing the mixed performance of the private banking majors,” Religare Broking said.
Bank Nifty Outlook
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Share market analysts at Religare Broking have buy calls on Dabur India, Hindalco Industries, GAIL India shares. Check share price targets, investment rationale, technical analysis, and more.
Stocks to buy on August 23, 2023
LTP: Rs 574.75 | Stop-loss: 564
Religare Broking has a ‘buy’ call on Titan shares with a target price of Rs 600 apiece. So far this year, the stock has risen around 2.43%.
Dabur India share price target
“We are seeing traction in the FMCG pack and Dabur is trading in sync. It is set to resume the uptrend, after forming a base around 560 levels,” the brokerage said.
Dabur to resume uptrend
LTP: Rs 450.35 | Stop-loss: Rs 436
Religare Broking has Hindalco as one of its technical stock picks for August 23. The brokerage has a ‘buy’ rating on the counter with a target price of Rs 478 per share. The stock has fallen around 7.4% so far this year.
Hindalco Industries share price target
“Hindalco has been gradually inching higher for the last 5 months. It has rebounded of late, after retesting the medium-term moving average i.e. 50 DEMA with noticeable volumes. The chart indicates the up move to continue,” share market analysts said.
Upmpve in Hindalco shares to continue
LTP: Rs 117.05 | Stop-loss: Rs 114
Religare Broking has a ‘sell’ call on Kotak Mahindra Bank stock with a target price of Rs 123 per share. So far in 2023. the stock has jumped 20.91%.
GAIL India share price target
“Gail is witnessing a rebound after retesting the neckline area of the previous consolidation range. It has reclaimed the short-term average i.e. 20 EMA and is likely to make a new record high soon,” Religare Broking said.
GAIL likely to hit a new record high
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.