Produced by: Prashun Talukdar
Domestic benchmarks recorded a sharp cut on Tuesday as all sectoral indices dragged. The 30-share BSE Sensex pack crashed 1,235 points or 1.60% to close at 75,838 and the broader NSE Nifty index cracked 320 points or 1.37% to finish at 23,025. India VIX, fear index, rose 3.89% to 17.06-level.
For January 22 (Wednesday), analysts from a domestic brokerage assigned 'Buy/Sell' calls on Aditya Birla Fashion, Marico and REC shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 277.05 | SL: Rs 267 Analysts from Religare Broking have given a 'Buy' call on Aditya Birla Fashion and Retail Ltd shares with a target price of Rs 297. The scrip has risen 24.41% in the past one year. "Tracking the price action, the stock showcases buying interest at lower levels. This recovery is expected to strengthen further and one can accumulate it for a favourable risk-to-reward ratio," the brokerage said.
LTP: Rs 664.55 | SL: Rs 647 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 705 per share. The scrip has climbed 27.57% in a year. "Marico has been outperforming within the FMCG basket. Traders can initiate fresh positions in the mentioned range," the domestic brokerage stated.
LTP: Rs 476.30 | SL: Rs 493 Analysts have included Bank of REC Ltd as well in their stock suggestions but with a 'Sell futures' call. The stock can hit a downward target of Rs 445, they said. The counter has moved up 9.56% in the past one year. "Traders may consider shorting REC futures at the current levels," the broking firm mentioned.
"We recommend adhering to a 'sell-on-rise' strategy in Nifty while emphasizing robust risk management practices," said analysts at Religare Broking.
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