Produced by: Prashun Talukdar
Benchmark indices staged a sharp recovery on Friday and settled higher, pausing their four-day losing run. The domesic indices were up in previous trade, led by gains in banks, financials and consumer stocks. NSE Nifty closed with 151 points or 0.69% gains at 22,147-level. And, the 30-share BSE Sensex pack jumped 599 points or 0.83% to end at 73,088. India VIX, fear index, rose 3.20% to 13.46-level.
For April 22 (Monday), market analyst from a domestic brokerage has assigned 'Buy' calls for ICICI Bank, Motherson and DLF shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 1,068 | SL: Rs 1,044 An analyst from LKP Securities has given 'Buy' call on ICICI Bank Ltd shares with a target price of Rs 1,125. The scrip has risen 18.04% in the past one year. "In the short term, the stock could potentially move towards Rs 1,105-1,125 levels and beyond. Support is positioned at 1,044 on the lower end," said Rupak De, Senior Technical Analyst at LKP Sec.
LTP: Rs 127.35 | SL: Rs 122 The LKP analyst has also selected Samvardhana Motherson International Ltd in his stock recommendations. He has given a 'Buy' call on the counter with a target price of Rs 135 per share. The scrip has gained 79.75% in a year. "One can initiate a fresh position at the current market price. Keep stop loss at Rs 122 for a target of Rs 135," De stated.
LTP: Rs 853.50 | SL: Rs 829 The analyst from LKP has included DLF Ltd in his stock suggestions as well with 'Buy' call for a target of Rs 900. The multibagger counter has zoomed 107.59% in the past one year. "The stock has dipped into the oversold zone on hourly charts. The technical setup implies a potential exhaustion of the current bearish trend and a forthcoming recovery in the near term," De mentioned.
"A decisive close above 22,300 in Nifty would pave the way for further recovery else profit taking may resume. Traders should maintain hedged positions citing the prevailing swings and wait for clarity," said Ajit Mishra – SVP, Research at Religare Broking.
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