Produced by: Prashun Talukdar
Domestic benchmarks on Wednesday settled higher after a single-day hiatus, led by gains in automobiles, financials, metals and energy stocks. The 30-share BSE Sensex rose 230 points or 0.29% to close at 80,234 and the broader NSE Nifty moved up 80 points or 0.33% to end at 24,275. India VIX, fear index, dived 5.21% to 14.63-level.
For November 28 (Thursday), an analyst from a domestic brokerage assigned 'Buy' calls on Orchid Pharma, Ramco Industries and Sarla Performance shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 1,579 | SL: Rs 1,483 StoxBox's analyst has given a 'Buy' call on Orchid Pharma Ltd shares with a target price of Rs 1,757. The mutlibagger scrip has rallied 179.91% in the past one year. "We recommend purchasing Orchid Pharma shares within the range of Rs 1,585-1,565, targeting a price of Rs 1,757, while maintaining a stop loss at Rs 1,483," said Kushal Gandhi, Technical Analyst at StoxBox.
LTP: Rs 293.53 | SL: Rs 274 The analyst from StoxBox has also selected Ramco Industries Ltd in his stock recommendations. He has given a 'Buy' call on the counter with an upside target of Rs 324 per share. The scrip has gained 35.96% in a year. "The stock is showing promising signs of continued upward momentum after emerging from a volatility contraction pattern. We recommend buying it for a target price of Rs 324. Keep stop loss placed at Rs 274 for a short-term opportunity," Gandhi stated.
LTP: Rs 103.90 | SL: Rs 95.45 The StoxBox analyst has included Sarla Performance Fibers Ltd as well in his stock suggestions with a 'Buy' call. The stock may hit an upside target of Rs 116, he said. The mutlibagger counter has zoomed 112.04% in the past one year. The scrip has shown considerable recovery in price strength. We recommend purchasing it within the range of Rs 103-102, targeting a price of Rs 116, while maintaining a protective stop at Rs 95.45," Gandhi mentioned.
"Nifty has been consolidating over the past three days following a sharp upmove earlier. On the higher side, it faces resistance at 24,420 and a decisive breakout above this level could trigger a significant move toward further higher levels. On the lower side, support is positioned at 24,100. The index is likely to remain range-bound until it makes a directional move on either side," said Rupak De, Senior Technical Analyst at LKP Securities.
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