Market Analyst Recommends NMDC and NTPC Green Shares for Investment
Stocks to buy: Nagaraj Shetti recommends NMDC, NTPC Green shares to buy
Mint
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On May 14, 2023, Indian stock markets saw a significant rally with the Sensex and Nifty 50 gaining over 1%. Analyst Nagaraj Shetti recommends buying shares of NMDC at ₹92.25 and NTPC Green Energy at ₹110.75, with specific targets and stop-losses for each stock.
- 01Sensex surged over 800 points, Nifty 50 climbed over 250 points.
- 02Market capitalization of BSE-listed companies increased by over ₹3 lakh crore.
- 03Nagaraj Shetti recommends buying NMDC shares at ₹92.25 with a target of ₹97.
- 04NTPC Green Energy shares recommended at ₹110.75 with a target of ₹116.
- 05Positive market sentiment driven by global factors and AI optimism.
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On May 14, 2023, the Indian stock market experienced a robust rally, with the Sensex rising over 800 points to reach an intraday high of 75,492, and the Nifty 50 climbing over 250 points to trade above 23,650. This surge added over ₹3 lakh crore (approximately $360 billion USD) to the market capitalization of BSE-listed companies. The positive momentum was influenced by gains in Asian markets, particularly driven by optimism surrounding artificial intelligence. Nagaraj Shetti, a Senior Technical Research Analyst at HDFC Securities, provided specific stock recommendations amidst this market uptrend. He advised investors to buy NMDC shares at ₹92.25, targeting ₹97 with a stop-loss at ₹89, citing a recent breakout and increasing volume. Additionally, he recommended NTPC Green Energy shares at ₹110.75, with a target of ₹116 and a stop-loss at ₹107, noting a reversal in the stock's downward trend.
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Investors may benefit from potential gains in their portfolios if the recommended stocks perform well.
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