Buy, Sell or Hold? What should investors do with Delta Corp, KPIT Technologies & Mahindra Holidays?

Indian market closed in the red for the second consecutive day in a row on Wednesday but Nifty managed to close the day above 18000 levels.

Sectorally, buying was seen in telecom, energy, oil & gas and auto, while selling pressure was seen in metal, realty, and consumer durables.

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Stocks that were in focus include Delta Corp that closed with gains of about 4 per cent, KPIT Technologies closed with gains of over 7 per cent and Mahindra Holidays rose over 5 per cent.

Here's what Santosh Meena, Head of Research, Swastika Investmart Ltd, recommends investors should do with these stocks when the market resumes trading today:

Delta Corp: Buy

Delta Corp is in a strong bullish momentum, which is likely to continue for a move towards an all-time high. The previous high was placed at Rs 401.6, however, Rs 308 is an immediate hurdle, and we could see some fresh buying momentum once the stock surpasses the said level.

On the downside, Rs 280 will be an immediate support level while Rs 250 is strong support at any profit booking. Momentum indicator RSI is positively placed,  whereas ADX is also trading above the 25 mark to support the current strength.

KPIT Technologies: Rs 450 immediate target

KPIT Technologies is in a classical bull run where after a period of consolidation it took support at the 20-week SMA and then witnessed a breakout of bullish Flag formation to resume its classical uptrend.

The level of Rs 450 is an immediate target while Rs 355 will act as strong support now. On daily charts, momentum indicators look overbought but they may remain overbought for some more time.

Mahindra Holidays: Hold

Mahindra Holidays is likely to break out after some period of consolidation, where it has created a strong base at Rs 225 while Rs 265 is an immediate hurdle.

If it manages to take out Rs 265 resistance levels, then we can expect a move towards Rs 300 in the coming days.

(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.)