Produced by: Prashun Talukdar
Domestic benchmarks on Wednesday settled marginally up, led by gains in consumer, automobile and IT stocks. The 30-share BSE Sensex rose 16 points or 0.02% to close at 81,526 and the broader NSE Nifty climbed 32 points or 0.13% to end at 24,642. India VIX, fear index, slipped 3.70% to 13.27-level.
For December 12 (Thursday), an analyst from a domestic brokerage assigned 'Buy' calls on Tata Communications, Caplin Point and IEX shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 1,844 | SL: Rs 1,800 LKP Securities' analyst has given a 'Buy' call on Tata Communications Ltd shares with a target price of Rs 1,930. The scrip has edged up 8.02% in the past one year. "Tata Communications could move toward Rs 1,930 in the near term. On the downside, support is placed at Rs 1,800," said Rupak De, Senior Technical Analyst at LKP Sec.
LTP: Rs 2,469.10 | SL: Rs 2,390 The analyst from LKP has also selected Caplin Point Laboratories Ltd in his stock recommendations. He has given a 'Buy' call on the counter with an upside target of Rs 2,700 per share. The multibagger scrip has rallied 105.26% in a year. "The stock has moved up following a breakout from a few days of consolidation, indicating a rise in optimism. Strong buying interest persists, which could drive the price sharply higher," De stated.
LTP: Rs 190.35 | SL: Rs 184.80 The LKP analyst has included Indian Energy Exchange Ltd as well in his stock suggestions with a 'Buy' call. The stock may hit an upside target of Rs 216, he said. The counter has risen 23.93% in the past one year. "IEX has given a consolidation breakout on daily charts. In the short term, it could move towards Rs 216. On the lower end, support is placed at Rs 184.80," De mentioned.
"The sideways trend continues and Nifty remained within a range. A strong upside move could occur once the index decisively moves above 24,700. In that case, Nifty might move towards 25,000. On the lower end, support is placed at 24,500," said Rupak De of LKP Securities.
Business Today provides stock market news for informational purposes only and that should not be construed as investment advice. Readers are encouraged to consult a qualified financial advisor before making any investment decisions.