Produced by: Prashun Talukdar
Domestic benchmarks saw a sharp uptick on Friday, led by gains in IT, consumer, banks, financials, automobile, pharma and energy stocks. The 30-share BSE Sensex zoomed 1,961 points or 2.54% to close at 79,117. The broader NSE Nifty moved up 557 points or 2.39% to end at 23,907. India VIX, fear index, edged up 0.67% to 16.10-level.
For November 25 (Monday), an analyst from a domestic brokerage assigned 'Buy' calls on Tata Motors, Siemens and Jubilant FoodWorks shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 794 | SL: Rs 775 LKP Securities' analyst has given a 'Buy' call on Tata Motors Ltd shares with a target price of Rs 850. The scrip has climbed 17.86% in the past one year. "The stock appears poised for a short-term pullback following sharp selling. A pullback toward Rs 850 could materialise if it decisively moves above Rs 800. On the downside, support is positioned at Rs 775," said Rupak De, Senior Technical Analyst at LKP Sec.
LTP: Rs 6,850 | SL: Rs 6,644 The analyst from LKP has also selected Siemens Ltd in his stock recommendations. He has given a 'Buy' call on the counter with an upside target of Rs 7,100 per share. The scrip has soared 88.78% in a year. "The stock has risen after a brief consolidation on daily charts. In the near term, a move above Rs 6,850 could lead to a pullback toward Rs 7,100, while support on the downside is positioned at Rs 6,644," De stated.
LTP: Rs 642.70 | SL: Rs 618 The LKP analyst has included Jubilant FoodWorks Ltd as well in his stock suggestions with a 'Buy' call. The stock can hit an upside target of Rs 700, he said. The counter has risen 17.96% in the past one year. "In the near term, a move above Rs 645 could lead to a pullback toward Rs 700, while support on the downside is positioned at Rs 618," De mentioned.
"Nifty finally witnessed a strong recovery, indicating an improving trend. The sentiment appears favorable for a meaningful rally in the short term, as long as the index stays above 23,600. Immediate resistance is seen at 23,960–24,000. A decisive move above 24,000 could trigger a rally toward 24,500. On the downside, supports are placed at 23,750 and 23,550," said Rupak De of 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.