Amol Athawale, vice president of technical research at Kotak Neo, set short-term targets for three Indian shares and identified Nifty 50 levels to watch, Mint reported Oct. 22.
NSE Indices data put the benchmark’s Oct. 21 close at 22,811.35, down 0.34% for the session. It finished 11.35 points above 22,800, one of the support readings Athawale highlighted. Mint said he also watched the 20-day simple moving average and 22,750.
Athawale told Mint that holding the cited support levels could leave room for the index to reach 22,950–23,000. In the report, he also said a break below 22,750 might expose the Nifty to 22,600–22,550.
For a one-to-two-week period, Mint listed Oct. 21 closing prices alongside Athawale’s targets and stop-loss levels. Persistent Systems closed at ₹5,858.50, with a ₹6,260 target and ₹5,650 stop-loss. Oil and Natural Gas Corporation (ONGC) closed at ₹225.62, with a ₹240 target and ₹217 stop-loss. Godrej Consumer Products closed at ₹859, with ₹920 and ₹828 as its respective target and stop-loss. All prices are rupees per share.
Separately, Persistent Systems said its special committee approved opening a qualified institutional placement (QIP) on Oct. 21, proposing to raise up to $450 million. The initial exchange filing listed a floor price of ₹5,550 per share and said the company could offer a discount of up to 5%. A follow-up filing confirmed a ₹5,761-per-share floor and said the other details remained unchanged.
Persistent Systems said it would set the final issue price in consultation with its book-running lead managers.
