Produced by: Prashun Talukdar
Headline index NSE Nifty on Wednesday scaled its fresh all-time high level, led by gains in consumer, metal, state-owned lenders and energy stocks. Nifty touched a lifetime peak of 22,776 during intraday trade. It eventually closed 111 points or 0.49% higher at 22,754-level. The 30-share BSE pack settled 354 points or 0.47% higher at 75,038. India VIX, fear index, fell 2.17% to 11.11-level. Domestic benchmarks were closed on Thursday due to Id-Ul-Fitr (Ramzan Id).
For April 12 (Friday), market analyst from a domestic brokerage has assigned 'Buy' calls for HPCL, Max Healthcare and Sobha shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 488 | SL: Rs 469 An analyst from LKP Securities has given 'Buy' call on Hindustan Petroleum Corporation Ltd (HPCL) shares with a target price of Rs 530. The multibagger scrip has gained 112.27% in the past one year. "The share price has resumed its uptrend after finding support at the falling trendline. Over the short term, the stock is likely to move towards Rs 515-530 levels, with support placed at 469," said Rupak De, Senior Technical Analyst at LKP Sec.
LTP: Rs 865 | SL: Rs 839 The LKP analyst has also selected Max Healthcare Institute Ltd in his stock recommendations. He has given a 'Buy' call on the counter with a target price of Rs 925 per share. The scrip has jumped 80.58% in a year. "The stock has experienced a breakout on daily charts. Over the short term, the counter may move towards the Rs 925 zone, with support placed at Rs 839," De stated.
LTP: Rs 1,650 | SL: Rs 1,589 The analyst from LKP has included Sobha Ltd in his stock suggestions as well with a 'Buy' call for an upside target of Rs 1,774. The multibagger counter has zoomed 263.16% in the past one year. "Sobha's stock has surged above the recent consolidation level, indicating an improved interest building up in the counter. The scrip may move towards Rs 1,774 level. Support level is placed at Rs 1,589," De mentioned.
Nifty's immediate hurdle is seen at its all-time-high of 22,776, while the index has support at 22,489, said Prashanth Tapse, Senior VP (Research) at Mehta Equities.
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