Produced by: Prashun Talukdar
Domestic benchmarks on Thursday touched their fresh lifetime high levels, led by gains in IT, automobile, metal, healthcare and energy stocks. The 30-share BSE pack hit a record high of 79,396 during intraday trade. It eventually settled 569 points or 0.72% higher at 79,243. The broader NSE Nifty scaled a fresh peak of 24,087 before closing 176 points or 0.74% up at 24,045. India VIX, fear index, shed 0.12% to 14.15-level.
For June 28 (Friday), an analyst from a domestic brokerage has assigned 'Buy' calls for Tata Power, ABB India and Colgate-Palmolive shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 442 | SL: Rs 418 The analyst from Prabhudas Lilladher (PL) has given a 'Buy' call on Tata Power Company Ltd shares with a target price of Rs 497. The multibagger scrip has gained 101.60% in the past one year. "With charts looking attractive, we suggest to buy the stock for an upside target of Rs 497. Keep stop loss placed at Rs 418," said Shiju Koothupalakkal, Technical Research Analyst at PL.
LTP: Rs 8,679.85 | SL: Rs 8,200 The PL analyst has also selected ABB India Ltd in his stock recommendations. He has given a 'Buy' call on the counter with a target price of Rs 9,600 per share. The multibagger scrip has zoomed 102.12% in a year. "We suggest buying the stock for an upside target of Rs 9,600, keeping a stop loss of Rs 8,200," Koothupalakkal stated.
LTP: Rs 2,849.70 | SL: Rs 2,720 The analyst from PL has included Colgate-Palmolive (India) Ltd in his stock suggestions as well with a 'Buy' call. One can expect an upside target of Rs 3,070 in the near term. The counter has surged 68.37% in the past one year. "Traders can buy the stock for an upside target of Rs 3,070 with a stop loss of Rs 2,720," Koothupalakkal mentioned.
"Nifty made new all-time highs for the last three consecutive sessions, showing signs of resilience amid global sluggishness. The trend remains positive for the short term or until it breaks below 23,800. On the higher end, the index might move towards 24,200," said Rupak De, Senior Technical Analyst at LKP Securities.
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