Produced by: Prashun Talukdar
Domestic benchmarks on Monday continued their strong upmove for the second straight session, led by gains in automobile, IT, metal, pharma, consumer durables and realty stocks. The 30-share BSE Sensex jumped 445 points or 0.56% to close at 80,248 and the broader NSE Nifty moved up 145 points or 0.6% to end at 24,276. India VIX, fear index, rose 1.9% to 14.70-level.
For December 3 (Tuesday), an analyst from a domestic brokerage assigned ‘Buy’ calls on Voltas, Crompton Greaves and GIC Re shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 1,722 | SL: Rs 1,669 LKP Securities' analyst has given a 'Buy' call on Voltas Ltd shares with a target price of Rs 1,825. The multibagger scrip has rallied 105.53% in the past one year. "The stock has given a consolidation breakout on daily charts, suggesting a rise in optimism. Over the short term, it is likely to move towards Rs 1,825, while support is placed at Rs 1,669," said Rupak De, Senior Technical Analyst at LKP Sec.
LTP: Rs 416.80 | SL: Rs 400 The analyst from LKP has also selected Crompton Greaves Consumer Electricals Ltd in his stock recommendations. He has given a 'Buy' call on the counter with an upside target of Rs 446 per share. The scrip has gained 41.38% in a year. "In the short term, the stock is likely to move towards Rs 446. Support will be placed at Rs 400," De stated.
LTP: Rs 402.25 | SL: Rs 384 The LKP analyst has included General Insurance Corporation of India (GIC Re) as well in his stock suggestions with a 'Buy' call. The stock may hit an upside target of Rs 440, he said. The counter has risen 29.07% in the past one year. "The stock has given a falling trendline breakout and a double-bottom breakout on daily charts, indicating a rise in optimism. In the short term, the stock is likely to move towards Rs 440 with support placed at Rs 384," De mentioned.
"Nifty moved up after absorbing the initial weakness as the index surpassed 24,200. In the short term, 24,420 remains a tough hurdle. A decisive move above this level could trigger a rally towards 24,770. On the lower end, support is placed at 24,100-24,000 levels," said Rupak De of LKP Securities.
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