Produced by: Prashun Talukdar
Domestic benchmarks settled lower on Monday as IT, metals and energy stocks dragged. The 30-share BSE Sensex slipped 385 points or 0.47% to close at 81,749 and the broader NSE Nifty moved down 100 points or 0.40% to end at 24,668. India VIX, fear index, spiked 7.41% to 14.02-level.
For December 17 (Tuesday), analysts from a few domestic brokerages assigned 'Buy' calls on Jupiter Wagons, Welspun Living and JK Paper shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 556.85 | SL: Rs 538 LKP Securities analyst has given a 'Buy' call on Jupiter Wagons Ltd shares with a target price of Rs 600. The scrip has gained 69.28% in the past one year. "The stock has recently broken out of a falling channel pattern, signalling a potential reversal from the downtrend. It has potential to continue the upward move further," said Rupak De, Senior Technical Analyst at LKP Sec.
LTP: Rs 178.50 | SL: Rs 173 The analyst from LKP has also selected Welspun Living Ltd in his stock recommendations. He has given a 'Buy' call on the counter with upside targets of Rs 185-190 per share. The scrip has risen 15.50% in a year. "Traders can consider buying the stock, keeping stop loss placed at Rs 173 with expected targets of Rs 185-190. Setup-wise, the risk-to-reward ratio is favourable," De stated.
LTP: Rs 474.70 | SL: Rs 450 An analyst from Prabhudas Lilladher (PL) has included JK Paper Ltd in his stock suggestions with a 'Buy' call. The stock may hit an upside target of Rs 570, he said. The counter has climbed 21.48% in the past one year. "We suggest to buy and accumulate the stock for an upside target of Rs 570, keeping stop loss at Rs 450 level," said Shiju Koothupalakkal, Technical Research Analyst at PL.
"Nifty remained range-bound during the session, trading within the bands of 24,600 and 24,800. The sentiment remains positive for the short term as the index sustains above the critical moving average on the daily timeframe. On the higher end, the index may continue its upward movement towards 25,000 and beyond in the short term. On the lower end, crucial support is placed at 24,500," said Rupak De, Senior Technical Analyst at LKP Securities.
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