SBI, Britannia and Biocon are top stock picks, says Anand Rathi
Ganesh Dongre of Anand Rathi recommended buying SBI, Britannia and Biocon as Indian equity benchmarks ended the week on a positive note.
Ganesh Dongre, AVP — Equity Research at Anand Rathi, has recommended SBI, Britannia and Biocon as stocks to buy on Monday, according to a report by Mint.
The recommendations for SBI include buying at Rs 950 to Rs 960 with a target of Rs 995 and a stop-loss of Rs 930. For Britannia, Dongre suggested buying at Rs 4620 to Rs 4640 with a target of Rs 4720 and a stop-loss of Rs 4580.
For Biocon, the suggested buy range is Rs 345 to Rs 350 with a target of Rs 370 and a stop-loss of Rs 330.
The stock suggestions come as the Nifty gained nearly 2 per cent to close at 23,053, while the Bank Nifty advanced 0.75 per cent to settle at 54,686.
Dongre noted that the Nifty 50 and Bank Nifty remain in a cautious technical phase. He said a sustained weekly close of the Nifty 50 above 23,200–23,400 would improve the near-term technical outlook.
He added that the Bank Nifty needs to move decisively above 56,400–56,500 to strengthen its technical outlook and warned that markets may remain volatile until resistance levels are breached.