Produced by: Prashun Talukdar
Domestic benchmarks settled higher on Wednesday, taking their winning run for the fourth straight session. The indices were up led by gains in metals and healthcare stocks. Headline index NSE Nifty closed 34 points 0.15% higher at 22,402-level. The 30-share BSE pack rose 114 points or 0.16% to end at 73,853. India VIX, fear index, climbed 0.78% to 10.28-level.
For April 25 (Thursday), market analyst from a domestic brokerage has assigned 'Buy' calls for BHEL, MRPL and Petronet LNG shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 263.90 | SL: Rs 250 An analyst from LKP Securities has given 'Buy' call on Bharat Heavy Electricals Ltd (BHEL) shares with target prices of Rs 285-300. The multibagger scrip has zoomed 242.28% in the past one year. "The stock is poised for a breakout on daily charts, indicating potential bullish momentum. Momentum indicator RSI provides confirmation of a buy signal, suggesting favorable conditions for an upward movement," said Kunal Shah, Senior Technical & Derivative Analyst at LKP Sec.
LTP: Rs 247.85 | SL: Rs 230 The LKP analyst has also selected Mangalore Refinery and Petrochmcls Ltd (MRPL) in his stock recommendations. He has given a 'Buy' call on the counter with target prices of Rs 260-270 per share. The multibagger scrip has rallied 357.29% in a year. "The stock has exhibited a robust breakout on daily charts accompanied by a sharp surge in volumes, signaling strong buying interest. Momentum indicator RSI has provided a bullish crossover, confirming the presence of bullish momentum," Shah stated.
LTP: Rs 299 | SL: Rs 290 The market expert from LKP has included Petronet LNG Ltd in his stock suggestions as well with 'Buy' call for targets of Rs 310-320. The counter has risen 26.21% in the past one year. "The stock has rebounded strongly, indicating significant buying interest. Daily charts demonstrate a persistent uptrend, reinforcing a further bullish momentum," Shah mentioned.
"On the higher end, immediate resistance for Nifty is placed at 22,500. A decisive move above 22,500 might take the index towards the 22,750-22,800 zone over the short term. Support is placed at 22,350-22,400," said Rupak De, Senior Technical Analyst at LKP Securities.
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