Buy, Sell or Hold: What should investors do with Birlasoft, NIIT & CG Power?

Indian market closed in the green for the second consecutive day on Tuesday following positive global cues. The S&P BSE Sensex rose nearly 500 points while the Nifty50 closed above 17200 levels.

Among the sectors that remained in action today, buying was seen in capital goods, consumer discretionary, auto, consumer durables, and energy stocks.

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Stocks that were in focus include NIIT and Birlasoft which closed with gains of over 13 per cent and 2 per cent respectively. 

Birlasoft also hit a 52-week high in the intraday trade while CG Power & Industrial pared gains after hitting a 52-week high on Tuesday.

Here's what Vijay Dhanotiya, Lead of Technical Research, CapitalVia Global Research Limited, recommends investors should do with these stocks when the market resumes trading today:

NIIT: Buy

The stock has been moving in an uptrend. It has given a breakout from an Ascending Channel pattern, and we believe that positive momentum in the stock is likely to continue.

We have observed indicators like MACD and RSI indicating positive momentum that is likely to continue in the NIIT. We recommend a buy in NIIT above 485 with a target of 650. Investors are advised to maintain a stop loss of 375.  

BirlaSoft: Buy

The stock has given a breakout from the Flag formation. We expect bullish momentum to continue in the stock.

We have observed indicators like MACD and RSI indicating positive momentum and recommend a buy above 545 with a target of 640. A stop-loss can be placed below Rs 435.

CG Power & Industries: Buy

The stock has been moving in an uptrend in an Ascending channel. The stock has reversed from the lower band of the ascending channel which is a positive sign.

We have observed indicators like MACD and RSI indicating positive momentum. We recommend a buy in CG POWER above 194 with a target of 250, and investors are advised to maintain a stop loss below 160.  

(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.)