Stock Market Update: Buy Recommendations for Ajanta Pharma, Tata Communications, and NMDC Shares
Rajesh Palviya of Axis Sec suggests Ajanta Pharma, Tata Communications, NMDC shares to buy today - 15 May
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On May 15, 2023, the Indian stock market opened higher, with the BSE Sensex gaining 451.46 points to 75,850.18 and the NSE Nifty 50 rising 143.25 points to 23,832.85. Analyst Rajesh Palviya from Axis Securities recommends buying shares of Ajanta Pharma, Tata Communications, and NMDC, highlighting their bullish trends and potential price upsides.
- 01BSE Sensex rose by 451.46 points, while NSE Nifty 50 increased by 143.25 points on May 15.
- 02Ajanta Pharma shares are expected to rise to ₹3,450-₹3,670, with a support zone of ₹3,150-₹3,000.
- 03Tata Communications shares could reach ₹1,750-₹1,850, with support at ₹1,620-₹1,570.
- 04NMDC shares are projected to rise to ₹103-₹109, with a downside support zone of ₹91-₹88.
- 05The overall market sentiment is bullish, driven by gains in IT stocks and positive cues from US markets.
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On May 15, 2023, the Indian stock market showed positive momentum, with the BSE Sensex climbing 451.46 points (0.60%) to reach 75,850.18 and the NSE Nifty 50 advancing 143.25 points (0.60%) to 23,832.85. This rise was supported by gains in IT stocks and favorable signals from US markets. Analyst Rajesh Palviya from Axis Securities suggested that investors consider buying shares of Ajanta Pharma, Tata Communications, and NMDC, all of which are exhibiting strong bullish trends. Ajanta Pharma has surpassed its resistance zone, with an expected upside of ₹3,450-₹3,670 and a support zone of ₹3,150-₹3,000. Tata Communications has shown a trend reversal, with potential gains reaching ₹1,750-₹1,850 and support at ₹1,620-₹1,570. NMDC is also in a strong uptrend, projected to rise to ₹103-₹109, with a support zone of ₹91-₹88. Investors are advised to consider these stocks for accumulation based on their bullish indicators.
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Investors in the Indian stock market could benefit from the bullish trends in Ajanta Pharma, Tata Communications, and NMDC, potentially increasing their investment returns.
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