Produced by: Prashun Talukdar
Benchmark indices on Monday continued to plunge for the second straight session as concerns over Iran-Israel tensions spooked investors. Headline index Nifty tanked 247 points or 1.1% to close at 22,273-level. The 30-share BSE pack cracked 845 points or 1.14% to end at 73,400. India VIX, fear index, spiked 8.10% to 12.47-level.
For April 16 (Tuesday), market analyst from a domestic brokerage has assigned 'Buy' calls for CSB Bank, Indus Towers and Godrej Properties shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 412.80 | SL: Rs 397 An analyst from LKP Securities has given 'Buy' call on CSB Bank Ltd shares with a target price of Rs 440. The scrip has jumped 44.54% in the past one year. "The stock has given a flag pattern breakout on daily charts, suggesting a rise in optimism. It is likelt to move towards Rs 440. A support level is placed at Rs 397," said Rupak De, Senior Technical Analyst at LKP Sec.
LTP: Rs 337 | SL: Rs 323 The LKP analyst has also selected Indus Towers Ltd in his stock recommendations. He has given a 'Buy' call on the counter with a target price of Rs 365 per share. The multibagger scrip has gained 145.81% in a year. "The stock has given a consolidation breakout on daily charts, indicating an improved interest building up in the stock. It has been comfortably positioned above the critical rising moving averages. The counter may move towards Rs 365. Support will be placed at Rs 323," De stated.
LTP: Rs 2,646.05 | SL: Rs 2,525 The analyst from LKP has included Godrej Properties Ltd in his stock suggestions as well with 'Buy' call for a target of Rs 2,800. The multibagger counter has zoomed 257.53% in the past one year. "The stock has given a swing high breakout on weekly charts, indicating an improved interest building up. It has been comfortably positioned above the important moving averages. It can be assumed that the scrip could move towards Rs 2,800. Support will be at Rs 2,525," De mentioned.
"Nifty is likely to fluctuate between 22,200 and 22,400. Sellers are expected to persist as long as the index remains below the 22,400 mark," said Rupak De from LKP Securities.
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