Produced by: Prashun Talukdar
Domestic benchmarks on Wednesday settled slightly lower amid a highly volatile session. The 30-share BSE Sensex fell 51 points or 0.06% to close at 78,148 and the broader NSE Nifty shed 19 points or 0.08% to end at 23,689. India VIX, fear index, slipped 1.33% to 14.47-level.
For January 9 (Thursday), an analyst from a domestic brokerage assigned 'Buy' calls on Reliance Industries, Airtel and Narayana Hrudayalaya shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 1,261.35 | SL: Rs 1,200 Angel One analyst has given a 'Buy' call on Reliance Industries Ltd shares with target prices of Rs 1,330-1,350. The scrip has fallen 2.50% in the past one year. "Reliance is demonstrating notable strength as it rebounds from multi-week lows. We recommend buying the shares around Rs 1,250 with a stop loss of Rs 1,200 for potential targets of Rs 1,330-1,350," said Osho Krishan, Senior Research Analyst - Technical & Derivatives at Angel One.
LTP: Rs 1,601.15 | SL: Rs 1,570 The analyst from Angel One has also selected Bharti Airtel Ltd in his stock recommendations. He has given a 'Buy' call on the counter with upside targets of Rs 1,655-1,660 per share. The scrip has gained 52.63% in a year. "Airtel is currently in a significant consolidation phase. The stock is setting the stage for a potential price breakout in the near term. One can buy it around Rs 1,600-1,590 with a stop loss of Rs 1,560 for potential targets of Rs 1,655-1,660," Krishan stated.
LTP: Rs 1,358 | SL: Rs 1,290 The Angel One analyst has included Narayana Hrudayalaya Ltd as well in his stock suggestions with a 'Buy' call. The stock may hit upside targets of Rs 1,440-1,450, he said. The counter has climbed 10.08% in the past one year. The stock has exhibited remarkable growth this week, fuelled by robust trading volumes that suggest increasing investor interest. Buy it around Rs 1,350-1,340 levels with a stop loss of Rs 1,290 for potential targets of Rs 1,440-1,450," Krishan mentioned.
"Nifty is trading within a range between 23,500 and 24,200. The index has support around 23,500 level, wherein heightened selling pressure can be observed. A decisive move above 24,000 can take only Nifty towards 24,500," said Vatsal Bhuva, Technical Analyst at LKP Securities.
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