Produced by: Prashun Talukdar
Domestic benchmarks settled higher on Monday, pausing their three-day losing run as banks, financials and consumer stocks climbed. The 30-share BSE Sensex rose 376 points or 0.46% to close at 81,560. The broader NSE Nifty moved 84 points or 0.34% higher to end at 24,936. India VIX, fear index, slumped 6.453% to 14.24-level.
For September 10 (Tuesday), an analyst from a domestic brokerage assigned 'Buy/Sell' calls on Tata Motors, JSW Energy and Aarti Industries shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 1,040.80 | SL: Rs 1,007 The analyst from LKP Securities has given a 'Buy' call on Tata Motors Ltd shares with a target price of Rs 1,080. The scrip has gained 63.94% in the past one year. "The stock is indicating a negative trend for the short term. However, it may experience a reactive bounce towards Rs 1,080 level in the coming days, unless it breaks below Rs 1,008," said Rupak De, Senior Technical Analyst at LKP Sec.
LTP: Rs 730.75 | SL: Rs 698 The LKP Sec analyst has also selected JSW Energy Ltd in his stock recommendations. He has given a 'Buy' call on the counter with a target price of Rs 795 per share. The scrip has surged 69.45% in a year. "The stock has moved up after finding support at the rising trendline, indicating that the current uptrend is intact. In the short term, it may continue to strengthen and touch Rs 795 level. Keep a stop loss at Rs 698 for this trade," De stated.
LTP: Rs 588 | SL: Rs 685 The analyst from LKP Sec has included Aarti Industries Ltd as well in his stock suggestions but with a 'Sell' call. The stock can slip towards Rs 571, he said. The counter has risen 13.89% in the past one year. "The stock has slipped below its consolidation range, indicating increased bearishness. It may continue to fall. On the lower end, support is placed at Rs 570, while resistance is positioned at Rs 600," De mentioned.
"Nifty managed to recover some of the losses. However, the index remains a 'sell-on-rise' as long as it stays below 25,100. On the higher end, the 25,000-25,100 range may act as crucial near-term resistance, where sellers could re-enter. On the lower end, support is placed at 24,800-24,785, below which selling might increase," said Rupak De of LKP Securities.
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