SEBI-registered research analyst Kunal Bothra has recommended two stocks for potential gains on Thursday, August 13. According to reports from ET Now, Bothra has set a target price of ₹560 for Aarti Industries with a stop loss at ₹505, and a target of ₹280 for Jio Financial Services with a stop loss at ₹240. These recommendations come as Indian markets are expected to open on a slightly higher note based on GIFT Nifty indicators.
The GIFT Nifty was trading 0.1 per cent, or 13.5 points, lower at 24,431.50 as of 8:20 am IST, indicating a slightly positive opening for Indian markets. As reported by ET Now, the GIFT Nifty serves as a pre-market indicator for the Nifty 50 and often signals whether the benchmark index is likely to open higher, lower or flat based on global market cues. Positive cues from Asian markets could further support Indian equities during today's session.
Asian markets showed mixed but generally positive performance, with Japan's Nikkei 225 rising nearly 2 per cent to 68,746 and South Korea's KOSPI trading around 4 per cent higher at 6,846.50. According to ET Now, Hong Kong's Hang Seng traded flat at 25,461 while China's Shanghai Composite rose 0.4 per cent to 3,962.28. These positive cues from Asian markets could help Indian equities open on a firm note today.
Aarti Industries has shown strong technical momentum with a 5 per cent surge on Wednesday that has taken the share price well above a key resistance level. As reported by The Hindu BusinessLine, the stock is currently moving inside a bull channel since mid-January, with the region between ₹520 and ₹515 now acting as a good support zone. The stock broke above the ₹520 resistance level and is positioned for potential movement toward the ₹590 target, which represents the upper end of the bull channel. Traders can accumulate on dips at ₹524 with a stop-loss at ₹504, and trail the stop-loss up to ₹536 as the stock advances.
On Wednesday, August 12, the 30-share BSE benchmark Sensex lost 187.9 points, or 0.24 per cent, to close at 77,966.35, while the NSE Nifty fell 35.75 points, or 0.15 per cent, to close at 24,435.95. As reported by ET Now, the Nifty Bank index closed 439.60 points, or 0.77 per cent, higher at 57,885.85. The markets had a negative session but came off significantly from their low point before ending with a modest cut. The Nifty witnessed a flat start and formed its high point in the early seconds of the session, then drifted lower and formed the low point of the day in the afternoon session, with recovery in the second half.
