Produced by: Prashun Talukdar
Domestic benchmarks on Tuesday touched their fresh all-time high levels, led by gains in banks, financials and IT stocks. The 30-share BSE pack hit a record high of 78,165 during intraday trade. It eventually settled 712 points or 0.92 per cent higher at 78,054. The broader NSE Nifty scaled a fresh peak of 23,754 before closing 183 points or 0.78% up at 23,721. India VIX, fear index, rose 1.81% to 14.31-level.
For June 26 (Wednesday), analysts from a domestic brokerage have assigned 'Buy' calls for Apollo Tyres, Granules India and Firstsource Solutions shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 519.65 | SL: Rs 485 Analysts from Religare Broking have given a 'Buy' call on Apollo Tyres Ltd shares with a target price of Rs 590. The scrip has risen 28.71% in the past one year. "The stock has been in a steady uptrend, forming a series of higher tops and bottoms with supportive volumes. It has recorded a breakout from the brief consolidation, indicating a bullish tone to continue," Religare said.
LTP: Rs 490.05 | SL: Rs 473 Religare analysts have also selected Granules India Ltd in their stock recommendations. They have given a 'Buy' call on the counter with a target price of Rs 535 per share. The scrip has moved 68.26% up in a year. "Pharma stocks have been performing well for the last several weeks. And, Granules India is offering a fresh buying opportunity with favourable risk of reward in place, Religare stated.
LTP: Rs 211.70 | SL: Rs 205 Analysts from Religare have included Firstsource Solutions Ltd in their stock suggestions as well with a 'Buy' call. One can expect an upside target of Rs 228 in the near term. The counter has gained 64.81% in the past one year. "The stock has registered a breakout from the consolidation range with a strong volume surge. On higher timeframe, it has been forming a bullish cup and handle price pattern, which compliments a bullish bias," the brokerage mentioned.
"Nifty managed to close above the 23,700 mark. Though the index is scaling to new highs, sectors are not participating collectively. Rotational buying is rather seen, which also seems to be rewarding at the current juncture. We are eyeing levels of 24,000-24,400 in Nifty, with 23,550 and 23,300 acting as strong support," Religare Broking said.
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