Produced by: Prashun Talukdar
Benchmark indices on Tuesday continued their sharp fall for the third straight session. The domestic indices were dragged by technology and state-owned lenders. Headline index NSE Nifty tanked 125 points or 0.56% to close at 22,148-level. The 30-share BSE pack settled 456 points or 0.62% lower at 72,944. India VIX, fear index, rose 1.18% to 12.62-level. The indices were closed on Wednesday (April 17) due to Ram Navami.
For April 18 (Thursday), market analysts from a domestic brokerage have assigned 'Buy' calls for NMDC, Mahindra Finance and Motherson shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 240.70 | SL: Rs 226 Analysts from Religare Broking have given 'Buy' call on NMDC Ltd shares with a target price of Rs 274. The multibagger scrip has jumped 114.34% in the past one year. "We are seeing noticeable traction in the metal space and NMDC is largely trading in tandem with the trend. The stock has reclaimed its record high after spending nearly two months in consolidation phase and looking set for the next leg of upmove. We thus recommend accumulating it," Religare said.
LTP: Rs 288.60 | SL: Rs 278 Religare has also selected Mahindra and Mahindra Financial Services Ltd in his stock recommendations. The brokerage has given a 'Buy' call on the counter with a target price of Rs 325 per share. The scrip has climbed 11.13% in a year. "Mahindra Finance has ended six-month long consolidation phase. The overall structure indicates a possible pause, followed by resumption of uptrend soon. Traders should utilise this phase to accumulate it," the brokerage stated.
LTP: Rs 124.85 | SL: Rs 116 Religare has included Samvardhana Motherson International Ltd in their stock suggestions as well with 'Buy' call for a target of Rs 140. The counter has jumped 81.73% in the past one year. "Motherson has been in a steady uptrend for more than five months. The stock is showing strength. We advise traders to accumulate the counter," the brokerage mentioned.
"Nifty continued to under remain pressure amid geopolitical tensions. Going ahead, we believe sustenance above 22,100 would be important for the index to curb any further downside, and consolidate between the 22,100 and 22,400 range," Religare Broking said.
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