Produced by: Prashun Talukdar
Domestic benchmarks scaled their new lifetime high levels on Thursday, led by gains in technology, banks, financials and FMCG stocks. The 30-share BSE Sensex hit an all-time high of 81,522.55 before settling 627 points or 0.78% higher at 81,343. The broader NSE Nifty touched its fresh record high of 24,837.75. It eventually closed 188 points or 0.76% up at 24,801. India VIX, fear index, rose 2.02% to 14.51-level.
For July 19 (Friday), an analyst from a domestic brokerage has assigned 'Buy' calls for M&M, ITD Cementation and Tata Consumer shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 2,815.05 | SL: Rs 2,650 The analyst from Prabhudas Lilladher (PL) has given a 'Buy' call on Mahindra & Mahindra (M&M) Ltd shares with a target price of Rs 3,200. The scrip has gained 82.27% in the past one year. "With chart formations looking good, we suggest buying the stock for an upside target of Rs 3200 with a stop loss of Rs 2,650," said Shiju Koothupalakkal, Technical Research Analyst at PL.
LTP: Rs 515.60 | SL: Rs 575 The PL analyst has also selected ITD Cementation Ltd in his stock recommendations. He has given a 'Buy' call on the counter with a target price of Rs 580 per share. The multibagger scrip has rallied 194.54% in a year. "Currently, the stock is well placed on charts, indicating a trend reversal. We suggest buying it for an upside target of Rs 560-580 levels, keeping stop loss placed at Rs 575," Koothupalakkal stated.
LTP: Rs 1,192.70 | SL: Rs 1,110 The analyst from PL has included Tata Consumer Products Ltd as well in his stock suggestions with a 'Buy' call. The stock can hit an upside target of Rs 1,340 in the near term. The counter has risen 38.61% in the past one year. "The stock is anticipated to gain further as technical parameters looked favourable. One can buy it for an upside target of Rs 1,340, keeping a stop loss of Rs 1,110," Koothupalakkal mentioned.
"For Nifty, the trend is likely to remain positive as long as the index stays above 24,500. On the higher end, the current trend might take the index towards 25,000 in the near term," said Rupak De, Senior Technical Analyst at LKP Securities.
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