Buy, Sell or Hold: What should investors do with Affle India, Tata Communications and Deepak Fertilisers?
Stocks that were in focus include Affle India Ltd, Tata Communications and Deepak Fertilisers which closed with gains of nearly 3 per cent, 5 per cent and 7 per cent respectively on Wednesday.
Indian stock markets closed in the green for the fourth consecutive day in a row on Wednesday.
Sectoral buying was seen in telecom, power, utilities, energy, and realty stocks while some selling was seen in consumer durables.
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Stocks that were in focus include Affle India Ltd, Tata Communications and Deepak Fertilisers which closed with gains of nearly 3 per cent, 5 per cent and 7 per cent respectively on Wednesday.
Here's what Santosh Meena, Head of Research, Swastika Investmart Ltd, recommends investors should do with these stocks when the market resumes trading today:
Affle India: Buy
The counter is in a strong uptrend where it is breaking out of Flag formation. It created a strong base around their breakout level at Rs 1250.
However, 1460 is an immediate resistance where it may see some pause, but above this, it is likely to head towards Rs 1,800 levels.
On the downside, Rs 1250 is major support at any correction while 1200 is the next critical demand level. MACD and RSI are supporting the strength of the current movement.
TATA Communications: Buy
The counter is witnessing a multi-month breakout with a rise in volume. The stock is also moving in a channel formation pattern, and it has made its all-time high after breaking the level of Rs 1540.
On the upside, 1700 is the next critical resistance level and above this, the stock may reach to 2000+ level in the near term. On the downside, Rs 1350 is a strong support level.
Deepak Fertilisers: Buy
The counter is in a strong bullish trend where it has formed a base around Rs 370 at 200-DMA and now witnessing breakout of the symmetrical triangle formation.
The stock is facing resistance at Rs 500 level which is its all-time high level; above this we are expecting a long run-up towards 700 level.
On the downside, Rs 400 is major support at any correction while 350 is the next critical support level. Momentum indicators are positively poised to support the current strength.
(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
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