Purchased stocks, LIC stock price target: The stock market has rebounded, with the title indexed stock share of nearly 2%. BSE Sensex jumped 2%, or 1,536 points, to 78,581, while the Nifty 50 index climbed 1.77%, or 414 points, to 23,851.45.
Are you looking for stock investment advice on this upward trend? Domestic brokerage firms recommend using stocks of major large insurance providers with a short-term perspective.
Analysts at Anand Rathi Brokerage recommend buying LIC shares at a target price, meaning a return of up to 22% starting on Wednesday (April 16).
Are LIC stocks showing signs of reversal?
After reaching a 52-week high of Rs 1,222, India's LIC (LICI) made a sharp correction, down nearly Rs 500, or 41%. However, recent price action suggests that the worst may be over.
According to technical analysis from the brokerage firm, the stock has begun to form a strong foundation in the Rs 800 range of Rs 750 in the past 2-3 weeks.
“At this merger phase, the reverse head and shoulder pattern forms a potential reversal,” the broker noted. This further supports the bullish difference in the daily RSI, which usually indicates a lower sales pressure, momentum transfer and possible transfers.
Based on these models, brokers advise investors to consider launching long positions in large stocks between Rs 780 and Rs 805.
What are the broker’s LIC stock goals?
Anand Rathi brokerage recommends a six-month target of Rs 975 and a stop loss of Rs 699. The target shows a 22.28% upside from Wednesday's closing price.
LIC vs Title Index: Past Performance
LIC stock has fallen 16% over the past year, while the 50-Script basket has risen 8.36% over the same period. Meanwhile, the BSE Sensex index soared 8.31% in the same field of view.
Stocks, which are part of the Nifty Nifty Next 50 basket, have grown 3.88% over the past year.
