Produced by: Prashun Talukdar
Benchmark indices settled slightly higher on Friday as gains in banks and financials were countered by losses in IT and automobile shares. Headline index Nifty rose just 1 point to close at 22,514-level. The 30-share BSE pack climbed 21 points or 0.03% to end at 74,248. India VIX, fear index, moved 1.04% to 11.34-level.
For April 8 (Monday), market analyst from a domestic brokerage has assigned 'Buy' calls for Godrej Properties, Fortis Healthcare and Granules India shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 2,512.65 | SL: Rs 2,400 An analyst from LKP Securities has given a 'Buy' call on Godrej Properties shares with a target price of Rs 2,700. The multibagger scrip has gained 104.55% in the past one year. "The stock has broken out of consolidation on daily charts, indicating increased optimism in the stock. The momentum indicator is showing a bullish crossover. On the higher end, it might move towards 2,700 while support is positioned at Rs 2,400," said Rupak De, Senior Technical Analyst at LKP Sec.
LTP: Rs 437.45 | SL: Rs 424 The LKP analyst has also selected Fortis Healthcare in his stock recommendations. He has given a 'Buy' call on the counter with a target price of Rs 480 per share. The scrip has jumped 71.08% in a year. "The stock has given breakout from recent consolidation pattern on daily charts, indicating an increased bullishness. The momentum indicator exhibits a bullish crossover. Potential upward movement could target Rs 480, with support established at Rs 424," De stated.
LTP: Rs 452 | SL: Rs 434 The analyst from LKP has included Granules India in his stock suggestions as well with a 'Buy' call for a target of Rs 486. The counter has risen 50.97% in the past one year. "The stock has been trending higher over the past few days, indicating a sustained uptrend. The momentum indicator shows a bullish crossover. Potential upward movement could aim for Rs 486, with support firmly established at Rs 434," De mentioned.
"Nifty has remained sideways, reflecting a pause. The sentiment may continue to remain sideways due to the lack of a directional breakout or pattern formation. At the higher end, 22,650 might prove to be a crucial resistance level. A fresh rally is not anticipated as long as the index remains below 22,650. On the lower end, support is evident at 22,300. If breached, the index might decline towards the 22,000-21,900 range," said Rupak De from LKP Securities.
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