Produced by: Prashun Talukdar
Domestic benchmarks on Thursday continued their strong upmove for the fifth straight session, led by gains in IT, banks, financials, automobile, consumer and energy stocks. The 30-share BSE Sensex surged 810 points or 1% to close at 81,766 and the broader NSE Nifty moved up 241 points or 0.98% to end at 24,708. India VIX, fear index, rose 0.53% to 14.53-level.
For December 6 (Friday), an analyst from a domestic brokerage assigned 'Buy' calls on NBCC, Castrol India and Bharat Dynamics shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 103.18 | SL: Rs 94 Prabhudas Lilladher's analyst has given a 'Buy' call on NBCC Ltd shares with a target price of Rs 125. The multibagger scrip has rallied 100.74% in the past one year. "NBCC is expected to carry on with the positive move further ahead. We suggest buying it for an upside target of Rs 125, keeping a stop loss of Rs 94," said Shiju Koothupalakkal, Technical Research Analyst at PL.
LTP: Rs 218.84 | SL: Rs 203 The analyst from PL has also selected Castrol India Ltd in his stock recommendations. He has given a 'Buy' call on the counter with an upside target of Rs 255 per share. The scrip has surged 55.87% in a year. "For Castrol, a decisive breach above Rs 222 level can further strengthen the ongoing uptrend. With charts looking good, one can buy the stock for an upside target of 255 with a stop loss of Rs 203," Koothupalakkal stated.
LTP: Rs 1,222 | SL: Rs 1,090 The PL analyst has included Bharat Dynamics Ltd (BDL) as well in his stock suggestions with a 'Buy' call. The stock may hit an upside target of Rs 1,450, he said. The counter has soared 96.94% in the past one year. "BDL's stock has eroded significantly from its peak level. With charts looking well placed, we suggest buying it for an upside target of Rs 1,450, keeping stop loss placed at Rs 1,090," Koothupalakkal mentioned.
"For Nifty, the trend is likely to remain positive in the long term as long as the index stays above 24,300. Traders may adopt a 'buy-on-dip' strategy in the current market. On the higher side, it could move towards 25,000 in the near term," said Rupak De, Senior Technical Analyst at LKP Securities.
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