Produced by: Prashun Talukdar
Benchmark indices on Thursday continued to plunge for the fourth straight session. The domestic indices were dragged by banks, financials, consumer, automobile and energy stocks. Headline index Nifty tanked 152 points or 0.69% to close at 21,996-level. The 30-share BSE pack slumped 455 points or 0.62% to end at 72,489. India VIX, fear index, rose 3.36% to 13.04-level.
For April 19 (Friday), market analyst from a domestic brokerage has assigned 'Buy' calls for Olectra Greentech, CG Power and Century Textiles shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 1,778 | SL: Rs 1,700 An analyst from Prabhudas Lilladher (PL) has given 'Buy' call on Olectra Greentech Ltd shares with a target price of Rs 1,980. The multibagger scrip has jumped 160.44% in the past one year. "The stock has witnessed a decent correction from the Rs 2,000 zone. It is anticipated to retest near the previous peak zone of Rs 1,980-2,000 levels. We suggest buying the stock for an upside target of Rs 1,980, keeping stop loss at Rs 1,700, said Shiju Koothupalakkal, Technical Research Analyst at PL.
LTP: Rs 529.45 | SL: Rs 485 The PL analyst has also selected CG Power and Industrial Solutions Ltd in his stock recommendations. He has given a 'Buy' call on the counter with a target price of Rs 605 per share. The scrip has surged 77.31% in a year. "With the overall trend maintained positive, we suggest to buy and accumulate the stock for an upside target of Rs 605, keeping stop loss at Rs 485," Koothupalakkal stated.
LTP: Rs 1,803 | SL: Rs 1,700 Analyst from PL has included Century Textiles and Industries Ltd in its stock suggestions as well with 'Buy' call for a target of Rs 2,030. The multibagger counter has gained 164.08% in the past one year. "We suggest to buy and accumulate the stock for an upside target of Rs 2,030 keeping a strict stop loss placed at Rs 1,700 level," Koothupalakkal mentioned.
"Nifty might advance towards 22,200-22,300. And, sustained trading above 22,300 could further strengthen the index. Support is situated at 21,900," said Rupak De, Senior Technical Analyst at LKP Securities.
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