Produced by: Prashun Talukdar
Domestic benchmarks on Tuesday closed in the negative territory, dragged by banks, financials, metals, pharma and energy stocks. Headline index NSE Nifty fell 140 points or 0.62% to settle at 22,303-level. The 30-share BSE Sensex pack declined 384 points or 0.52% to end at 73,512. India VIX, fear index, rose 2.45% to 17.01-level.
For May 8 (Wednesday), market analysts from a domestic brokerage have assigned 'Buy/Sell' calls for TCS, ITC and DLF shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 3,975.20 | SL: Rs 3,880 Analysts from Religare Broking have given 'Buy' call on Tata Consultancy Services (TCS) shares with a target price of Rs 4,190. The scrip has risen 22.29% in the past one year. "TCS is showing some recovery from the confluence of support zone after being in the corrective phase from last few weeks. The stock has witnessed a breakout from intermediate falling resistance trendline. It can attract fresh upward momentum in the near term," the brokerage said.
LTP: Rs 441 | SL: Rs 425 Analysts from Religare have also included ITC Ltd in his stock suggestions. They have given a 'Buy' call for a target of Rs 480. The counter has edged 2.21% up in the past one year. "We are seeing recovery in the FMCG space and ITC is offering a fresh buying opportunity with favorable risk-reward in place. Traders can consider taking positions in the stock," the brokerage stated.
LTP: Rs 856.05 | SL: Rs 875 Religare analysts have assigned a 'Sell' call on DLF Ltd shares with a downward target level of Rs 830 per share. The scrip has surged 96.18% in a year. "DLF has been trading sideways with a negative bias for more than 2 months. The stock is likely to see a further downtick," the brokerage mentioned.
"Bulls could not stay strong against a background of favorable triggers. Additionally, the rise in India VIX is also weighing on markets. Nifty has slipped below its short term moving average, thereby suggesting that a short-term weakness in the market cannot be ruled out. On the levels front, 22,400-22,800 would act as intermediate hurdle whereas 22,150-21,780 may provide support to the index," Religare Broking said.
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