Produced by: Prashun Talukdar
Domestic benchmarks on Thursday settled lower, dragged by consumer, automobile, banks, financials and energy stocks. The 30-share BSE Sensex slipped 236 points or 0.29% to close at 81,290 and the broader NSE Nifty moved down 93 points or 0.38% to end at 24,549. India VIX, fear index, shed 0.58% to 13.19-level.
For December 13 (Friday), an analyst from a domestic brokerage assigned 'Buy' calls on Mazagon Dock, Torrent Power and Tourism Finance shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 4,955.50 | SL: Rs 4,600 Prabhudas Lilladher (PL) analyst has given a 'Buy' call on Mazagon Dock Shipbuilders Ltd shares with a target price of Rs 5,850. The multibagger scrip has rallied 138.97% in the past one year. "The stock is ready for another upward move. We suggest buying it for an upside target of Rs 5,850, keeping a stop loss at Rs 4,600," said Shiju Koothupalakkal, Technical Research Analyst at PL.
LTP: Rs 1,680 | SL: Rs 1,570 The analyst from PL has also selected Torrent Power Ltd in his stock recommendations. He has given a 'Buy' call on the counter with an upside target of Rs 1,920 per share. The scrip has surged 81.38% in a year. "Investors can anticipate a further rise in the coming sessions. One can buy it for a potential upside target of Rs 1,920 with stop loss at Rs 1,570 level," Koothupalakkal stated.
LTP: Rs 180.90 | SL: Rs 165 The PL analyst has included Tourism Finance Corporation of India Ltd as well in his stock suggestions with a 'Buy' call. The stock may hit an upside target of Rs 207, he said. The counter has jumped 62.75% in the past one year. "The stock has been in consolidation for quite some time. One should buy it at current levels for an upside target of Rs 207. Keep stop loss placed at Rs 165," Koothupalakkal mentioned.
"Nifty managed to stay above 24,500. This sideways consolidation in the index may persist for a few more days. A decisive fall below 24,470 could trigger a meaningful correction in the market. On the higher side, resistance is seen in the 24,650-24,700 range," said Rupak De, Senior Technical Analyst at LKP Securities.
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