Gaurav Bissa recommends a buy on Reliance Industries, which has given stability and a strong push to the markets. He also suggests a sell call on ICICI Prudential due to consistent lower top, lower bottom formation. Bissa believes the market is stock-specific and recommends a blend of large and midcaps.
Gaurav Bissa says: “We have seen 21,500 strike witnessing, good amount of put writing, now that is translated into 21,600 as well. So, as long as we are sustaining above these levels, we may head towards 21,800, that is the immediate resistance area. At this point in time, we are even suggesting to our clients not to be too aggressive in terms of buying or selling.”
Shares of Tata Motors Ltd approached their record high today after global brokerage JPMorgan upgraded shares of the Tata Group firm to overweight from the earlier stance of neutral. The brokerage revised its price target on Tata Motors to Rs 925 apiece from the Rs 680 earlier. Tata Motors stock gained 2.62% to a high of Rs 801.85 on BSE. Tata Motors stock opened higher at Rs 797.25 on Thursday. Market cap of the firm rose to Rs 2.64 lakh crore. Total 4.72 lakh shares changed hands amounting to a high turnover of Rs 37.72 crore on BSE. Tata Motors stock hit a 52-week low of Rs 381 on January 6, 2023 and a record high of Rs 804 on January 2, 2024.