Produced by: Prashun Talukdar
Domestic benchmarks on Thursday closed with sharp cuts, dragged by banks, financials, consumer, metals, pharma and energy stocks. Headline index NSE Nifty tanked 345 points or 1.55% to settle at 21,958-level. The 30-share BSE Sensex pack crashed 1,062 points or 1.45% to end at 72,404. India VIX, fear index, spiked 6.55% to 18.20-level.
For May 10 (Friday), market analyst from a domestic brokerage has assigned ‘Buy’ calls for Data Patterns, KEI Industries and Rainbow Children’s shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 2,839.95 | SL: Rs 2,715 An analyst from Prabhudas Lilladher (PL) has given 'Buy' call on Data Patterns (India) Ltd shares with a target price of Rs 3,160. The scrip has jumped 73.67% in the past one year. "The stock has once again taken support near Rs 2,715 zone to form a higher low pattern. We suggest to buy the scrip for an upside target of Rs 3,160, keeping stop loss at Rs 2,715 level," said Shiju Koothupalakkal, Technical Research Analyst at PL.
LTP: Rs 3,825 | SL: Rs 3,700 The PL analyst has also selected KEI Industries Ltd in his stock recommendations. He has given a 'Buy' call on the counter with a target price of Rs 4,170 per share. The scrip has gained 93.26% in a year. "After a small correction, the stock has taken support near Rs 3,720. It is expected to rise further in the coming days. We suggest to buy for an upside target of Rs 4,170, keeping stop loss placed at Rs 3,700," Koothupalakkal stated.
LTP: Rs 1,403 | SL: Rs 1,340 The analyst from PL has included Rainbow Children's Medicare Ltd in his stock suggestions as well with 'Buy' call for a target of Rs 1,550. The counter has surged 73.68% in the past one year. "The stock is currently well placed to anticipate a further rise. We suggest to buy the stock for an upside target of Rs 1,550 with stop loss at Rs 1,340," Koothupalakkal mentioned.
"Bears remained at the helm as Nifty fell sharply following a breakdown below 22,200. The trend looks extremely weak with a possibility of a further fall in the near term. On the higher end, immediate resistance is visible at 22,200. Market may remain 'sell on rise' until it stays below 22,200," said Rupak De, Senior Technical Analyst at LKP Securities.
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