Produced by: Prashun Talukdar
Benchmark indices settled in the green on Thursday, led by gains in state-owned banks, metal, pharma and automobile stocks. Headline index Nifty rose 203 points or 0.92% to close at 22,327-level. The 30-share BSE pack jumped 655 points or 0.90% to end at 73,651. India VIX, fear index, climbed 1.02% to end at 12.83-level. The domestic indices were closed on March 29 due to Good Friday.
For April 1 (Monday), market analyst from a domestic brokerage has assigned 'Buy' calls for Finolex Cables, Petronet LNG and Bank of Maharashtra shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 999 | SL: Rs 880 An analyst from LKP Securities has given a 'Buy' call on Finolex Cables shares with target prices of Rs 1,065-1,120. The scrip has risen 22.32% in the past one year. "The stock has recently demonstrated a significant technical breakthrough. In terms of support, it has a firm base around the Rs 900-880 zone, serving as a cushion for bullish sentiment. Potential upside targets are projected in the range of Rs 1,065-1,120," said Kunal Shah, Senior Technical & Derivative Analyst at LKP Sec.
LTP: Rs 264 | SL: Rs 250 The LKP analyst has also selected Petronet LNG in his stock recommendations. He has given a 'Buy' call on the counter with target prices of Rs 285-300 per share. The scrip has moved 12.92% up in a year. "The stock has recently exhibited a bullish reversal pattern. It has a strong support base around Rs 250 level. Potential upside targets are projected in the range of Rs 285-300," said Shah stated.
LTP: Rs 62.10 | SL: Rs 58 The analyst from LKP has included Bank of Maharashtra in his stock suggestions as well with a 'Buy' call for targets of Rs 68-70. The multibagger counter has jumped 141.17% in the past one year. "The stock has recently experienced a significant breakout. A key support level is identified at Rs 58. Potential upside targets are Rs 68-70," Shah mentioned.
Nifty's immediate hurdle is seen only at its all-time-high level of 22,527, while the support is placed at 22,000 mark, said Prashanth Tapse, Senior VP (Research) at Mehta Equities.
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