Earlier the headline indices of the Indian stock markets were gaining even as the economy saw its worst slump, now as most experts see the worst to be over, indices are likely to gain for some time now. And in October 12, 2020 deal, it has been the eight consecutive day of gains with Nifty breaching the crucial 12000 mark.
Now here are 2 buy calls by Prabhudas Lilladher's analyst:
1. State Bank of India -LTP: Rs. 203.45, target price of Rs. 230- 240
Bank Nifty and PSU Bank Nifty both are on the upside in an upbeat market and in October 12, 2020 trade, the stock of SBI is trading with gains of 1.29% and has hit the day's high price of Rs. 205.85 per share on the BSE.
The analyst sees that the stock has taken support near 180 levels and a buy is recommended for an accumulation strategy keeping a stock loss of Rs. 180 and for a target of Rs. 230-240 per share.
2. HPCL- LTP: Rs. 173.6, target price of Rs. 200
The stock of the refining major is trading weak on October 12, 2020 and has taken support near 168 levels. Trend reversal in the counter is expected to improve the bias and keeping the stop loss at Rs. 163, the brokerage's analysts sees a target price of Rs. 200 per share.