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Stock Tips: Golden opportunity to invest in these two stocks, market experts gave this target price

Stock Tips: Brokerage firm ICICI Direct expects domestic energy company Petronet LNG and auto giant Maruti Suzuki to rise up to 15%.

Stock Tips: Brokerage firm ICICI Direct is bullish on domestic energy company Petronet LNG and auto giant Maruti Suzuki. The brokerage firm believes that their shares can grow by up to 15% in the next three months. The brokerage firm analyzed the performance of both the stocks in the derivatives market and expects them to rise in the next three months based on trading activity. The domestic market has started well in the new year and Sensex and Nifty have seen gains of more than 3%. ICICI Direct has expressed hope of good growth in these stocks in its latest recommendation. Let us know how strong they are in terms of returns.

Maruti Suzuki India – Buy
Target – Rs 9,150 | Stop loss – Rs 7,490

Car maker Maruti Suzuki India has seen a boom since the last days of 2021. Shares of Maruti Suzuki India have gained more than 11% since December 30. The company is currently trading at Rs 8,138 per share. Analysts of ICICI Direct say that the short covering in the stock has led to this rise. He said that in the F&O space, short positions in the stock have declined significantly in the last 10 trading sessions. The brokerage firm said, “The stock has been able to maintain its put base at 7500 level, hence it can be bought at lower levels. We believe that with fresh buying in the stock, it will once again start a bullish phase.”

Talking about options, the stock has the highest call option base at 7800 followed by 8500 strike and put open interest base is consolidating at 7500 and 8000 strike, which can act as strong support on the downside. The brokerage firm has set a target price of Rs 9,150 for this stock.

Petronet LNG – Buy
Target – Rs 258 | Stop loss – Rs 203

Petronet LNG Limited is an oil and gas company importing liquefied natural gas and setting up LNG terminals in the country. Since mid-December last year, this stock has seen a gain of a little more than 6%. Analysts of ICICI Direct expect that this stock can now see a rise. Analysts believe that the leveraged positions in the stock have declined significantly in the last six months as the stock prices have remained low. The brokerage firm said, “Despite the sharp closure, the stock has been able to maintain its strong support of Rs 205. We are sure it will improve.” The brokerage firm has given a buy rating to this stock with a target price of Rs 258.

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