Buy, Sell or Hold: What should investors do with AstraZeneca Pharma, RBL Bank and SRF shares?

The Indian market was trading with nearly half per cent gains in the early trade on Wednesday amid improved sentiment. Ducking the trends of the Asian markets, benchmarks Nifty 50 and Sensex gained 0.5% as Foreign Institutional Investors (FIIs) tuned net buyers for the first time since May 30. FIIs bought equities worth Rs 1,295.84 crore in the Indian market on Tuesday, July 5.  

"FIIs turned buyers after a long gap. FIIs turning buyers is a bullish signal for Indian equity market. With valuations reaching fair levels, investors can buy high-quality stocks in a calibrated manner. Stocks that FPIs sell like financials and IT are good segments to bet now," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.  

At around 10.25 am, the Nifty50 was trading with gains of 66 points to 15,877, while the Sensex rose 277 points to trade at 53,409.  

In line with the benchmarks, Nifty Midcap gained 0.49%, while the smallcap dropped 0.23% amid profit booking.  

Auto, FMCG gained the most among Nifty sectoral indices, while Metal and Oil & Gas indices were top laggards.    

Meanwhile, certain stocks were in focus on Tuesday based on their movement on either side.  

Here is what Akhilesh Jat, Category Manager - Equity Research, suggests one should do with AstraZeneca Pharma, RBL Bank and SRF shares.  

AstraZeneca Pharma 
Buy: 3000; SL: 2920; TGT: 3090 
Share price of AstraZeneca Pharma surged over 5 per cent on the NSE on Tuesday to trade highest since 2nd June 2022. The stock continued the positive momentum for the fourth straight sessions. Stock has the immediate resistance level at 3025, and it is more likely to break above it. The momentum oscillators RSI head upwards & stood at 64 and the histogram contracts on the downside and moves towards the zero line, which suggests more upside in the prices. 
 

RBL Bank 
Sell below 80.80; SL: 84; TGT: 76 
Share price of RBL Bank tanked nearly 7 per cent intraday on 5 July 2022 and sustaining near to its 52-weeks low. The primary trend of the market is weak and at the current juncture 80.85 may act as a key support level breakdown of this level can drag-down the prices to re-test the level 75. 
 

SRF 
SELL: 2040; SL: 2090; TGT: 1960 

Share price of SRF declined over 6 per cent intraday to trade lowest since Dec 2021. Momentum oscillators RSI continue its Lower Low formation & stood below the centre line and MACD indicator sustaining below zero levels with negative crossover. Additionally, the stock has also formed a Head & Shoulder pattern on the daily chart and has given the breakout with marginally higher volumes which suggests the further downward movement in the prices. 

(Disclaimer: The views/suggestions/advice expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)