Technical Analyst, Vijay Bhambwani said that the stock markets on Tuesday belled the day on a pessimistic note, and closed with losses, discounting the overseas signals and the credit plan declaration in the bargain.
The 30-share-index BSE Sensex closed with approx 0.75 % losses while the banking and midcap stocks dropped sharply owing to bull relaxing.
Nirmal Bang, one of the leading equity research-cum-broking house, is of the view that investors can buy Television Eighteen with a target price of Rs 115-130.
According to experts at Nirmal Bang, interested traders can buy the stock on dips with a stop loss of Rs 81.
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Nirmal Bang Research is bullish on Bombay Dyeing & Mfg Company Ltd and maintained ‘Buy’ rating on the stock to achieve a target between Rs 225-240 within 1-5 days.
Traders can buy the stock on dips with a stop loss of Rs 178.
Shares of the company, on Tuesday (April 21), closed at Rs 193.60 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1065 and a low of Rs 110 on BSE.
The structure looks very positive, so buy the stock and hold, if it maintains above Rs 199, a big move is expected.
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The benchmark indices closed with modest loss and were trading volatile allthrough the session. The Sensex closed 81 points lower at 10,898 after hitting an intraday high of 11,068 and low of 10,764.
The Nifty was down 12 points to end the day at 3,365. It hit an intra-day high of 3,414 and low of 3,309.
Among the broader indices, BSE Midcap Index slipped 5 points, whereas Smallcap Index closed after gaining 17 points.