NSE Nifty 50 and BSE Sensex pared early gains and were trading flat in the afternoon session on Tuesday. The benchmark NSE index was trading at 18,268.25 and the 30-share BSE index was trading at 61,763.25. Meanwhile, analysts at Prabhudas Lilladher have added Infosys and Mangalore Refinery & Petrochemicals (MRPL) stocks to their buy list and put Fevicol-maker Pidilite Industries stock on hold. All three stocks were trading in green today.
Check Infosys, Pidilite, MRPL stocks target prices, stop loss and more
Infosys: Buy – CMP: Rs 1266.25 – SL: Rs 1200 – Target Price: Rs 1420 (12.14% upside)
“Infosys stock has witnessed a decent erosion recently and has indicated consolidation with support maintained near Rs 1220, Currently with the stock picking up gradually and with a move past the Rs 1280 zone would further strengthen the bias to anticipate for upward move in the coming days. With the RSI indicator showing significant pullback from the highly oversold zone has improved the bias to some extent,” said Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher. The analyst anticipates a further rise and suggests buying the stock for an upside target of Rs 1420 keeping a stop loss at Rs 1200.
MRPL: Buy – CMP: 61.05 – SL: Rs 48 – Target Price: Rs 80 (31% upside)
“MRPL has a strong support of the long-term trend line and with higher bottom formation visible, the stock is consolidating near 50 to 65 levels and with a close above 66 levels can see the stock rally till the first target of 80, and thereafter would have the next target of around 100. There is strong support around 200 period MA (weekly) level of 50,” said Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher. The analyst suggests buying stock with a short-term upside target of Rs 80 and a long-term target of Rs 100, keeping the stop loss at Rs 48.