Produced by: Prashun Talukdar
Domestic benchmarks on Monday closed on a positive note, led by gains in banks, financials, metals and pharma stocks. Headline index NSE Nifty rose 49 points or 0.22% to settle at 22,104-level. The 30-share BSE Sensex pack moved 112 points or 0.15% higher to end at 72,776. India VIX, fear index, spiked 11.51% to 20.60-level.
For May 14 (Tuesday), market analyst from a domestic brokerage has assigned 'Buy' calls for Hindalco, Power Grid and AMI Organics shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 634.45 | SL: Rs 610 An analyst from LKP Securities has given 'Buy' call on Hindalco Industries Ltd shares with target prices of Rs 660-675. The scrip has jumped 54.48% in the past one year. "Supported by a lower end cushion at Rs 610, the stock's upward potential targets are at Rs 660 and Rs 675," said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
LTP: Rs 306.50 | SL: Rs 293 The LKP analyst has also selected Power Grid Corporation of India Ltd in his stock recommendations. He has given a 'Buy' call on the counter with target prices of Rs 325-340 per share. The scrip has surged 68% in a year. "The stock is exhibiting a robust uptrend, maintaining higher highs and higher lows on daily charts. It has found support at Rs 293, providing a cushion for bulls in case of any declines," Shah stated.
LTP: Rs 1,228 | SL: Rs 1,150 The analyst from LKP has included AMI Organics Ltd in his stock suggestions as well with 'Buy' call for targets of Rs 1,320-1,380. The counter has climbed 8.14% in the past one year. "The stock is poised for a breakout. In case of declines, the lower-end support, at Rs 1,150, is expected to act as a cushion for bulls. Upside potential targets are set at Rs 1,320 and Rs 1,380," Shah mentioned.
"Nifty has formed a hammer pattern on daily charts, indicating a potential bullish reversal following a correction. However, the index's recovery may encounter resistance in the 22,150-22,200 zone, and only a decisive move above 22,200 could trigger a stronger rally in the market. On the lower end, support is situated at 21,950," said Rupak De from LKP Securities.
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