Produced by: Prashun Talukdar
Domestic benchmarks settled higher on Tuesday, pausing their four-day losing run. This rebound was steered by gains in state-owned banks, metals and automobile stocks. The 30-share BSE Sensex pack rose 170 points or 0.22% to close at 76,500 and the broader NSE Nifty index moved up 90 points or 0.39% to finish at 23,176. India VIX, fear index, fell 3.29% to 15.47-level.
For January 15 (Wednesday), analysts from a domestic brokerage assigned ‘Buy/Sell’ calls on Bajaj Finserv, Marico and Asian Paints shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 1,727 | SL: Rs 1,684 Analysts from Religare Broking have given a 'Buy' call on Bajaj Finserv Ltd shares with a target price of Rs 1,770. The scrip has risen 5.80% in the past one year. "We are seeing sustained rebound in the Bajaj twins and Bajaj Finserv has formed a fresh buying pivot while holding firmly above the support zone of multiple moving averages. Indications are in the favor of gradual recovery. So, investors can accumulate it," the brokerage said.
LTP: Rs 663.45 | SL: Rs 645 Religare analysts have also selected Marico Ltd in their stock recommendations. They have given a 'Buy' call on the counter with an upside target of Rs 688 per share. The scrip has climbed 25.19% in a year. "Marico has been outperforming within the FMCG basket. The chart pattern is pointing towards a steady rise towards the record high zone. Traders can initiate fresh positions in the mentioned range," the domestic brokerage stated.
LTP: Rs 2,240 | SL: Rs 2,310 Analysts have included Bank of Asian Paints Ltd as well in their stock suggestions but with a 'Sell futures' call. The stock can hit a downward target of Rs 2,135, they said. The counter has slipped 31.58% in the past one year. "The paint counters are experiencing renewed selling after the failed recovery attempt. Asian Paints has slipped below the previous swing low with a marginal uptick in volumes. So, we advise creating fresh shorts as per the mentioned levels," the broking firm mentioned.
"Nifty found some relief after the recent downturn, ending the day with nearly half a per cent gain. The rebound was largely driven by oversold conditions, which often trigger such recoveries. However, participants should view this as an opportunity to trim positions during further recovery, particularly in the midcap and smallcap segments. IT and FMCG, which had shown resilience until now, are beginning to exhibit signs of weakness, while other sectors remain under bearish pressure. We thus recommend adopting a stock-specific approach and prioritising risk management in the current environment," said analysts at Religare Broking.
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