Produced by: Prashun Talukdar
Indian equity benchmarks settled with sharp cuts on Friday, dragged down by all sectoral indices. The 30-share BSE pack plunged 793 points or 1.06% to end at 74,245 and the broader NSE Nifty index moved 234 points or 1.03 per cent down to close at 22,519. India VIX, fear index, moved 3.82% to up 11.53-level. In this holiday-shortened week ahead, market experts said geopolitical events, macroeconomic data and quarterly earnings would guide the indices. The domestic benchmarks would be closed on Wednesday (April 17) due to Ram Navami.
For April 15 (Monday), market analyst from a domestic brokerage has assigned 'Buy' calls for SAIL, UTI AMC and Motherson shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 155.35 | SL: Rs 140 An analyst from LKP Securities has given 'Buy' call on Steel Authority of India Ltd (SAIL) shares with target prices of Rs 170-185. The scrip has gained 88.76% in the past one year. "The stock is displaying a strong bullish trend. Visible support is at Rs 140, suggesting that dips should be seen as buying opportunities. The targets for the stock are set at Rs 170 and 185, highlighting potential upward movements," said Kunal Shah, Senior Technical & Derivative Analyst at LKP Sec.
LTP: Rs 918.50 | SL: Rs 880 The LKP analyst has also selected UTI Asset Management Company Ltd in his stock recommendations. He has given a 'Buy' call on the counter with target prices of Rs 1,000-1,060 per share. The scrip has risen 32.90% in a year. "The stock is demonstrating bullish signals. The immediate support is identified at Rs 880, providing a solid base for potential bullish movements. The counter is targeting higher levels, with upside potential of Rs 1,000-1,060 levels," Shah stated.
LTP: Rs 120.50 | SL: Rs 116 The analyst from LKP has included Samvardhana Motherson International Ltd in his stock suggestions as well with 'Buy' call for targets of Rs 130-140. The counter has jumped 75.02% in the past one year. "Motherson's stock is showing signs of a potential breakout. Recent days have seen an increase in trading volumes, indicating growing buyer interest at lower levels. Furthermore, a positive crossover in momentum indicator RSI supports this bullish momentum, suggesting a favorable outlook in the short term," Shah mentioned.
"Nifty has been facing resistance around 22,700-22,800 levels. We are eyeing the 22,350-22,500 zone to offer a cushion in case profit-taking extends. Meanwhile, we suggest keeping a check on leveraged positions and preferring hedged trades," said Ajit Mishra, SVP - Technical Research at Religare Broking.
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