Indian stock exchanges closed in the green for the fourth consecutive day on Wednesday.
Sector buys were seen in telecom, power, utilities, energy and real estate stocks, while some selling was seen in consumer durables.
See Zee Business Live TV Streaming below:
Stocks in the spotlight include Affle India Ltd, Tata Communications and Deepak Fertilizers, which closed with gains of nearly 3%, 5% and 7% respectively on Wednesday.
Here’s what Santosh Meena, Head of Research, Swastika Investmart Ltd, recommends investors do with these stocks when the market resumes trading today:
Affle India: Buy
The meter is in a strong uptrend where it exits the Flag formation. This created a solid base around their breakout level at Rs 1,250.
However, 1460 is immediate resistance where it can see some pause but above that it is likely to head towards the Rs 1800 levels.
On the downside, Rs 1,250 is major support for any correction while 1,200 is the next critical demand level. MACD and RSI support the strength of the current movement.
TATA Communications: Buy
The counter experienced a breakout of several months with an increase in volume. The stock is also moving in a channel forming pattern, and it hit its all-time high after breaking through the Rs 1,540 level.
On the upside, 1700 is the next critical resistance level and above that the stock may reach the 2000+ level in the near term. On the downside, Rs 1350 is a solid support level.
Deepak fertilizers: Buy
The meter is in a strong uptrend where it has formed a base around Rs 370 at 200-DMA and is now witnessing the breakout of the symmetrical triangle formation.
The stock is facing resistance at the Rs 500 level, which is its highest level ever; above that we expect a long climb to the 700 level.
On the downside, Rs 400 is major support for any correction while 350 is the next level of critical support. The momentum indicators are well positioned to support the current vigor.
(Disclaimer: The views / suggestions / advice expressed here in this article are solely by investment experts. Zee Business suggests that its readers consult their investment advisers before making a financial decision.)