Produced by: Prashun Talukdar
Domestic benchmarks on Monday continued to rise for the second consecutive session, led by gains across all sectoral indices. Headline index NSE Nifty closed 189 points 0.86% higher at 22,336-level. The 30-share BSE pack jumped 560 points or 0.77% to end at 73,649. India VIX, fear index, tanked 5.62% to 12.70-level.
For April 23 (Tuesday), market analyst from a domestic brokerage has assigned 'Buy' calls for EIH, Escorts Kubota and SBI shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 474 | SL: Rs 454 An analyst from LKP Securities has given 'Buy' call on EIH Ltd shares with a target price of Rs 500. The multibagger scrip has jumped 178.33% in the past one year. "The consolidation phase in the stock seems to be ending with an upward breakout as bulls are beginning to take positions. Overall sentiment may remain positive as long as it stays above Rs 454. On the upside, sustained trading above Rs 475 could propel EIH towards Rs 500 and beyond," said Rupak De, Senior Technical Analyst at LKP Sec.
LTP: Rs 3,162.70 | SL: Rs 3,055 The LKP analyst has also selected Escorts Kubota Ltd in his stock recommendations. He has given a 'Buy' call on the counter with target prices of Rs 3,278-3,307 per share. The scrip has gained 61.66% in a year. "The stock has poential to move higher. One can consider taking a position within the Rs 3,150-3,170 range, setting stop loss at Rs 3,055. Expected targets are Rs 3,278 and Rs 3,307," De stated.
LTP: Rs 768.15 | SL: Rs 749 The analyst from LKP has included State Bank of India Ltd (SBI) in his stock suggestions as well with 'Buy' call for targets of Rs 800-810. The counter has risen 38.51% in the past one year. "Bulls have initiated a consolidation breakout in the stock. Overall sentiment may remain positive in the short term as long as it sustains Rs 750 level. On the upside, sustained trading above Rs 770 could propel the stock towards Rs 800-810 and beyond," De mentioned.
"For Nifty, sentiment is expected to remain favorable for bulls as long as the index stays above 22,150. On the upside, it could potentially move towards 22,600-22,700. Conversely, a drop below 22,150 could lead to a consolidation in the index," said Rupak De from LKP Securities.
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