Stocks that share market analysts recommended on August 30, 2023: GAIL India, Havells India, and Mahindra and Mahindra (M&M)

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Nifty, Sensex ended higher

The benchmark indices ended higher for the second consecutive session on August 29. Sensex rose 79.22 points or 0.12% at 65,075.82, and the Nifty rose 36.70 points or 0.19% at 19,342.70 [{ "selector": ".wzeuf-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 429px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".ifmgd-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

Nifty Outlook

“Nifty has taken a pause after the recent fall and hovering in a narrow range. The overall tone is still negative, however, recovery in the select heavyweights capping the downside. A decisive close above short-term moving average i.e. 20 EMA may prompt some recovery or else prepare for further decline,” said Religare Broking [{ "selector": ".usmug-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 389px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".xdzox-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

Bank Nifty Outlook

“The banking index is showing some stability after the weeks of underperformance but a mixed trend within the private banking space is limiting the upside. It is trying to hold 44,500 and might attempt to test 45,000+ ahead. On the downside, the 43900-44200 zone would provide support in case of any dip,” Religare Broking said [{ "selector": ".iqato-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 389px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".crzjj-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

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Stocks to buy on
August 30, 2023

Share market analysts at Religare Broking have buy calls on GAIL India, Havells India, and Mahindra and Mahindra (M&M) shares. Check share price targets, investment rationale, technical analysis, and more [{ "selector": ".wxuwx-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 433px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".njbef-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

GAIL India share price target

LTP: Rs 116.95 | Stop-loss: Rs 114 Religare Broking has a ‘buy’ call on GAIL India shares with a target price of Rs 125 apiece. So far this year, the stock has risen around 21.07%. [{ "selector": ".expiq-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-349.0001331676135px)", "opacity": "1"}, {"offset": 1, "transform": "translateX(0)", "opacity": "1"} ] }, { "selector": ".sotds-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

Positivity seen in GAIL stock

“GAIL has been trading in an uptrend holding firm above its 21 DMA with the uptick in volumes which is adding positivity to the uptrend,” the brokerage said [{ "selector": ".iwmsi-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 433px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".goxxk-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

Havells India share price target

LTP: Rs 1,341 | Stop-loss: Rs 1,298 Religare Broking has Hindalco as one of its technical stock picks for August 30. The brokerage has a ‘buy’ rating on the counter with a target price of Rs 1,400 per share. The stock has risen around 21.84% so far this year [{ "selector": ".pagpe-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-349.0001331676135px)", "opacity": "1"}, {"offset": 1, "transform": "translateX(0)", "opacity": "1"} ] }, { "selector": ".qudag-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

Uptrend to resume in Havells

“Havells has been in a steady uptrend for the last 8 months, trading in an uptrending channel. It has formed a fresh base and looks set for resumption of the trend,” share market analysts said [{ "selector": ".jitoi-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 413px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".oenxu-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

Mahindra & Mahindra
(M&M) share price target

LTP: Rs 1,555.05 | Stop-loss: Rs 1,520 Religare Broking has a ‘buy’ call on Mahindra & Mahindra (M&M) stock with a target price of Rs 1,645 per share. So far in 2023, the stock has jumped 23.14% [{ "selector": ".mpqxr-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 413px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".xxgca-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

M&M stocks may rise

“M&M is set for a breakout from a consolidation range, after spending nearly two months in a consolidation phase. The chart pattern combined with the positioning of the oscillator is further adding to the confirmation,” Religare Broking said [{ "selector": ".mpjkn-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 413px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".ffefa-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

Disclaimer

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 [{ "selector": ".fpuzc-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 410px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".kgbir-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

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