Stocks that were in focus included names like Hindustan Zinc, which jumped nearly 17%, Vodafone Idea, which fell 2%, and Angel One, whose shares declined 3.06% on Tuesday.
Here’s what Avdhut Bagkar, Derivatives & Technical Analyst, StoxBox, recommends investors should do with these stocks when the market resumes trading today.
Hindustan zinc
The price action has observed a sharp move in the last few sessions and now must show composure for the next leg of upside. While the immediate support falls at 330, the price action should witness accumulation around 350-400 levels. The broader outlook appears bullish, with trends entering uncharted territory.
Vodafone Idea
To regain the positive bias, the stock must cross 14.50 level. However, if it fails to do so, the price may continue to dwindle towards 9 and 7 levels. The present structure is not appealing for any positive bias, rather the strength is experiencing losing momentum. Only above 14.50, the bullish sentiment may begin to prevail.
Angel one
The “Lower High, Lower Low” formation is citing a negative bias, as per the current chart structure. The stock must cross barriers of 3250 and 34500 to embark on the new journey. However, if the price action fails to overcome these obstacles, the momentum may favour bears, leading price towards 2300 – 2000 range.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)