Produced by: Prashun Talukdar
Benchmark indices settled with mild gains on Wednesday, led by gains in energy, consumer goods and automobile stocks. Headline index Nifty fell 22 points or 0.1% to close at 21,839-level. The 30-share BSE pack rose 90 points or 0.12% to end at 72,102. India VIX, fear index, was down 4.53% to end at 13.47-level.
For March 21 (Thursday), market analyst from a domestic brokerage has assigned 'Buy' calls for SBI, PowerGrid and Container Corp shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 736.60 | SL: Rs 710 An analyst from LKP Securities has given a 'Buy' call on State Bank of India (SBI) shares with target prices of Rs 770-790. The scrip has gained 41.15% in the past one year. "The stock is poised for a bullish crossover. Key support rests at Rs 710, while upside targets are set between Rs 770 and Rs 790," said Kunal Shah, Senior Technical & Derivative Analyst at LKP Sec.
LTP: Rs 264.60 | SL: Rs 257 The LKP analyst has also selected PowerGrid Corporation of India in his stock recommendations. He has given a 'Buy' call on the counter with target prices of Rs 274-280 per share. The scrip has jumped 58.10% in a year. "Despite recent market volatility, the stock has demonstrated signs of stability, hinting at a potential turnaround. Key support is identified at Rs 257, serving as a cushion against downside risks, while upside targets are set between Rs 274 and Rs 280," Shah stated.
LTP: Rs 840.50 | SL: Rs 800 The analyst from LKP Sec has included Container Corporation of India Ltd in his stock suggestions as well with a 'Buy' call for targets of Rs 880-900. The counter has climbed 41.12% in the past one year. "The stock presents a bullish opportunity. One can consider initiating a position within the range of Rs 830-840, setting a stop loss at Rs 805. Potential upside targets are Rs 880-900," Kunal Shah mentioned.
"For Nifty, the overall sentiment remains negative and the index may fall below 21,700 level. On the higher end, resistance is placed at the 21,900-22,000," said Rupak De, Senior Technical Analyst at LKP Securities.
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