Produced by: Prashun Talukdar
Domestic benchmarks on Wednesday touched their fresh all-time levels, led by gains in banks and financials. The 30-share BSE Sensex pack scaled a fresh peak of 77,852 during intraday deals. It eventually settled 36 points or 0.05% higher at 77,338. The broader NSE Nifty index hit an all-time high of 23,664. However, it closed 42 points or 0.18% lower at 23,516. India VIX, fear index, jumped 5.76% to 13.71-level.
For June 20 (Thursday), analysts from a few domestic brokerages have assigned 'Buy' calls for Axis Bank, IDFC First Bank and Castrol India shares. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 1,229 | SL: Rs 1,174 An analyst from LKP Securities has given a 'Buy' call on Axis Bank Ltd shares with a target price of Rs 1,330. The scrip has risen 27.27% in the past one year. "Following a consolidation breakout, the stock has moved up, registering its highest-ever closing. On the higher end, it might move towards Rs 1,330, while support is placed at Rs 1,174," said Rupak De, Senior Technical Analyst at LKP Sec.
LTP: Rs 82.22 | SL: Rs 78 The LKP analyst has also selected IDFC First Bank Ltd in his stock recommendations. He has given a 'Buy' call on the counter with target prices of Rs 86-88 per share. The scrip has inched 1.13% up in a year. Investors can consider buying the counter with a stop loss set at Rs 78 for target prices of Rs 86-88 levels, De stated.
LTP: Rs 205 | SL: Rs 190 An analyst from Religare Broking has included Castrol India Ltd in his stock suggestions with a 'Buy' call. One can expect a target of Rs 240 in the near term. The counter has gained 68.24% in the past one year. "Daily charts are suggesting an upmove in the share price. It has potential to hit Rs 240. Keep stop loss placed at Rs 190," said Ravi Singh, Senior Vice-President (Retail Research) at Religare.
"Nifty remained very range-bound, staying broadly within 23,450 and 23,650. The short-term trend remains strong, and any dips towards 23,340 levels might get bought into. On the higher end, the index might move towards 23,800 and beyond," said Rupak De of LKP Securities.
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