Technical calls: Zerodha maintains buy on Cipla, South India Bank and more

By: | Updated: August 18, 2016 12:59 PM

Domestic benchmark indices BSE Sensex and NSE Nifty continued to trade firm in afternoon trade on Thursday on account of buying in index heavyweights stocks.

BSE Sensex NSE NiftyDomestic benchmark indices BSE Sensex and NSE Nifty continued to trade firm in afternoon trade on Thursday on account of buying in index heavyweights stocks. (Reuters)

Domestic benchmark indices BSE Sensex and NSE Nifty continued to trade firm in afternoon trade on Thursday on account of buying in index heavyweights stocks. Market sentiments remained firm since the start of the day as Jharkhand became the third state to ratify the Goods and Services Tax Amendment Bill in a special session of the Legislative Assembly. Meanwhile, Karthik Rangappa, vice-president, educational services at Zerodha gave his recommendations on stocks like Cipla, Capital First, South Indian Bank, Asian Paints and Bata India.

1) Cipla – Zerodha recommends investors to buy Cipla a price of Rs 550 with stop los of Rs 511. The brokerage house has a target price of Rs 550 for Cipla shares.

2) Capital First – Investor can buy Capital First shares at a price of Rs 715 with stop loss of Rs 700. Target price is Rs 765.

3) South India Bank – The bokrage house is advising investors to buy South Indian Bank at a price of Rs 21.60 with stop loss of Rs 21.60 with a target price of Rs 22.70.

4) Asian Paints – Zerodha has sell call on Asian Paints at Rs 1,107 with stop loss of Rs 1,140. The brokerage house has a target price of Rs 1,057 for Asian Paints shares.

5) Bata India – It also has sell call on Bata India shares at Rs 546 with stop loss of Rs 552. Zerodha has a target price of Rs 515 for Bata India shares.

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