Stocks that were in focus included names like NDTV, which rose 12%, TCS, which jumped 0.4%, and Suzlon Energy, whose shares declined 4% on Tuesday.
Here’s what Avdhut Bagkar, Derivatives and Technical Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today.
NDTV
This is the first time post January of this year, the stock succeeded to cross its 200-simple moving average (SMA) set at 211. The current move, underpinned by robust volumes, implies sturdy underlying momentum that could attract move bulls going ahead. The medium-term stance may see a restoration, leading to an upward gradual rise. The next obstacle is at 250 level.
TCS
While the past two sessions have witnessed mild selling pressure, the underlying trend remains highly optimistic, as the breakout of the consolidation continues to build a support base for the stock. Immediate support is at 3400, with resistance at 3600.
Suzlon Energy
The steep upside rally is perceived profit booking at the counter. Until the support of 35 is defended, the price action may see a revival in trend. A breach of 30 could accelerate the selling press and the optimistic bias may witness a dent. On the upside, stock needs to take 44 to enter the next leg of upside.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)