Axis Bank & Hero MotoCorp: What Kiran Jani of Jainam Broking says on these 2 stocks
Kiran Jani, Head of Technical Research at Jainam Broking, on Friday selected Axis Bank Ltd as one of his top picks for the day.
- May 31, 2024,
- Updated May 31, 2024 12:09 PM IST
Kiran Jani, Head of Technical Research at Jainam Broking, on Friday selected Axis Bank Ltd as one of his top picks for the day. "The stock has potential to hit an upside target of Rs 1,200. Keep stop loss placed at Rs 1,149 for this trade," Jani told Business Today TV. Axis Bank's stock was last seen trading 0.38 per cent lower at Rs 1,166.95.
The other stock which the analyst selected was Hero MotoCorp Ltd. Those holding the counter can expect a near-term target price of Rs 5,189, the market expert suggested. The scrip was down 1.60 per cent at Rs 5,060.40.
Meanwhile, Indian equity benchmarks traded slightly higher today, with caution setting in ahead of the general elections' outcome next week. Broader markets (mid- and small-cap shares) were mixed today.
Investors are awaiting the exit polls, which project results after voting ends. Market participants will also be focusing on GDP (gross domestic product) data due later in the day.
On NSE, nine out of the 16 sector gauges were trading in the green. Sub-indexes Nifty Metal, Nifty Realty and Nifty Consumer Durables were outperforming the NSE platform by rising as much as 1.09 per cent, 1.78 per cent and 0.76 per cent. In contrast, Nifty Pharma and Nifty Healthcare fell 1.11 per cent and 1.27 per cent, respectively.
On the stock-specific front, Adani Enterprises was the top gainer in the Nifty pack as the stock jumped 3.59 per cent to trade at Rs 3,308.9. Infosys, M&M, Bajaj Finance and Titan rose up to 1.75 per cent.
In contrast, Hero MotoCorp, Airtel, Cipla, Kotak Mahindra Bank and Divi's Labs were the top laggards on Nifty50.
The overall market breadth was weak as 2,056 shares were declining while 1,613 were advancing on BSE.
Kiran Jani, Head of Technical Research at Jainam Broking, on Friday selected Axis Bank Ltd as one of his top picks for the day. "The stock has potential to hit an upside target of Rs 1,200. Keep stop loss placed at Rs 1,149 for this trade," Jani told Business Today TV. Axis Bank's stock was last seen trading 0.38 per cent lower at Rs 1,166.95.
The other stock which the analyst selected was Hero MotoCorp Ltd. Those holding the counter can expect a near-term target price of Rs 5,189, the market expert suggested. The scrip was down 1.60 per cent at Rs 5,060.40.
Meanwhile, Indian equity benchmarks traded slightly higher today, with caution setting in ahead of the general elections' outcome next week. Broader markets (mid- and small-cap shares) were mixed today.
Investors are awaiting the exit polls, which project results after voting ends. Market participants will also be focusing on GDP (gross domestic product) data due later in the day.
On NSE, nine out of the 16 sector gauges were trading in the green. Sub-indexes Nifty Metal, Nifty Realty and Nifty Consumer Durables were outperforming the NSE platform by rising as much as 1.09 per cent, 1.78 per cent and 0.76 per cent. In contrast, Nifty Pharma and Nifty Healthcare fell 1.11 per cent and 1.27 per cent, respectively.
On the stock-specific front, Adani Enterprises was the top gainer in the Nifty pack as the stock jumped 3.59 per cent to trade at Rs 3,308.9. Infosys, M&M, Bajaj Finance and Titan rose up to 1.75 per cent.
In contrast, Hero MotoCorp, Airtel, Cipla, Kotak Mahindra Bank and Divi's Labs were the top laggards on Nifty50.
The overall market breadth was weak as 2,056 shares were declining while 1,613 were advancing on BSE.