Produced by: Prashun Talukdar
Domestic benchmarks logged sharp cuts on Thursday as IT, automobile, private banks, financials and consumer stocks dragged. The 30-share BSE Sensex slumped 1,190 points or 1.48% to close at 79,044 and the broader NSE Nifty moved down 361 points or 1.49% to end at 23,914. India VIX, fear index, rose 3.96% to 15.21-level.
For November 29 (Friday), an analyst from a domestic brokerage assigned ‘Buy’ calls on BSE, VA Tech Wabag and HFCL shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets
LTP: Rs 4,583.05 | SL: Rs 4,200 Prabhudas Lilladher's (PL's) analyst has given a 'Buy' call on BSE Ltd shares with a target price of Rs 5,370. The scrip has rallied zoomed 95.13% in the past one year. "Overall, the stock has been in a strong uptrend. We suggest buying it for an upside target of Rs 5,370, keeping a stop loss at Rs 4,200," said Shiju Koothupalakkal, Technical Research Analyst at PL.
LTP: Rs 1,750 | SL: Rs 1,620 The analyst from PL has also selected VA Tech Wabag Ltd in his stock recommendations. He has given a 'Buy' call on the counter with an upside target of Rs 2,000 per share. The multibagger scrip has rallied 191.55% in a year. "The stock has maintained a positive bias, indicating an ascending channel pattern on daily charts. Investors can buy it for an upside positional target of Rs 2,000 with a stop loss of Rs 1,620," Koothupalakkal stated.
LTP: Rs 133.27 | SL: Rs 121 The PL analyst has included HFCL Ltd as well in his stock suggestions with a 'Buy' call. The stock may hit an upside target of Rs 157, he said. The counter has soared 99.81% in the past one year. "The stock has recovered after witnessing a decent correction. One can buy it for an upside target of Rs 157, keeping stop loss placed at Rs 121," Koothupalakkal mentioned.
"For Nifty, the sentiment looks weak and further weakness seems possible from here. In the short term, if the index falls below 23,870, it might continue declining toward 23,500. However, if it sustains above 23,870, it could witness a sharp recovery towards 24,200 and higher," said Rupak De, Senior Technical Analyst at LKP Securities.
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