Produced by: Prashun Talukdar
Domestic benchmarks on Wednesday touched their new all-time high levels, led by gains in banks, financials and energy stocks. The 30-share BSE pack hit a record high of 78,759 during intraday trade. It eventually settled 621 points or 0.80% higher at 78,674. The broader NSE Nifty scaled a fresh peak of 23,890 before closing 148 points or 0.62% up at 23,869. India VIX, fear index, fell 1.86% to 14.05-level.
For June 27 (Thursday), an analyst from a domestic brokerage has assigned 'Buy' calls for Reliance Industries, Senco Gold and Deepak Nitrite shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 3,021.10 | SL: Rs 2,970 The analyst from LKP Securities has given a 'Buy' call on Reliance Industries Ltd (RIL) shares with target prices of Rs 3,100-3,160. The scrip has risen 21.06% in the past one year. "The stock has given a breakout on daily charts, indicating a bullish stance," said Kunal Shah, Senior Technical & Derivative Analyst at LKP Sec.
LTP: Rs 1,121 | SL: Rs 1,060 The LKP analyst has also selected Senco Gold Ltd in his stock recommendations. He has given a 'Buy' call on the counter with target prices of Rs 1,190-1,240 per share. The multibagger scrip has zoomed 176.59% in a year. "The stock has given a previous swing high breakout on daily charts with a sharp rise in volume. The lower-end support is placed at the Rs 1,070-1,060 zone, which will act as a cushion for the bulls, with upside potential targets at Rs 1,190 and Rs 1,240," Shah stated.
LTP: Rs 2,522.95 | SL: Rs 2,400 The analyst from LKP has included Deepak Nitrite Ltd in his stock suggestions as well with a 'Buy' call. One can expect upside targets of Rs 2,620-2,700 in the near term. The counter has climbed 13% in the past one year. "The stock has witnessed a retracement and experienced renewed volume-based buying. It was trading in a strong uptrend on the lower timeframe, with higher high and higher low formations intact on charts," Shah mentioned.
"Nifty continued to rise as the bulls maintained control, pushing the index to a new all-time high. The sentiment is likely to remain positive as long as it stays above 23,700. On the higher end, a decisive move above 24,000 could take the index towards 24,200," said Rupak De, Senior Technical Analyst at LKP Securities.
Business Today provides stock market news for informational purposes only and that should not be construed as investment advice. Readers are encouraged to consult a qualified financial advisor before making any investment decisions.