Produced by: Prashun Talukdar
Domestic benchmarks on Friday halted their five-day upward run, dragged by banks and financials. Headline index NSE Nifty fell 150 points or 0.67% to close at 22,420-level. The 30-share BSE Sensex pack settled 609 points or 0.82% lower at 73,730. India VIX, fear index, rose 1.81% to 10.93-level.
For April 29 (Monday), market analyst from a domestic brokerage has assigned 'Buy' calls for HUDCO, Deepak Nitrite and City Union Bank shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 227.35 | SL: Rs 214 An analyst from LKP Securities has given 'Buy' call on Housing And Urban Development Corp Ltd (HUDCO) shares with target prices of Rs 250-260. The multibagger scrip has jumped 338.90% in the past one year. "The stock has experienced a significant breakout on daily charts. It is currently trading above its short-term moving average of 20=DMA, reinforcing the bullish sentiment in the market," said Kunal Shah, Senior Technical & Derivative Analyst at LKP Sec.
LTP: Rs 2,493 | SL: Rs 2,300 The LKP analyst has also selected Deepak Nitrite Ltd in his stock recommendations. He has given a 'Buy' call on the counter with target prices of Rs 2,600-2,800 per share. The scrip has risen 31.54% in a year. "The stock is poised for a breakout. It has demonstrated a strong reversal from its 20-day moving average (20DMA) at 2300, suggesting solid support and acting as a cushion for bullish traders," Shah stated.
LTP: Rs 160.45 | SL: Rs 150 The analyst from LKP has included City Union Bank Ltd in his stock suggestions as well with 'Buy' call for targets of Rs 175-185. The counter has climbed 12.36% in the past one year. "The stock is poised for a breakout. It has entered the strong buying zone now, further supporting potential for an upward move in the stock's price," Shah mentioned.
"Nifty remained under selling pressure throughout the session as the index failed to sustain above the crucial level of 22,500. On daily charts, a dark cloud cover pattern is observed, indicating a potential bearish reversal. Immediate support is situated at 22,300, below which the index could extend its losses towards 22,000. On the other hand, 22,500 might act as a technical resistance for Nifty," said Rupak De, Senior Technical Analyst at LKP Securities.
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