Buy, Sell or Hold: What should investors do with Hindalco, Gail India and Fine Organic?

Indian market closed in the green for the second day in a row on Monday. The S&P BSE Sensex rallied nearly 400 points while the Nifty50 closed just a shade below 16800.

Sectoral buying was seen in sectors including metals, energy, oil & gas, utilities, and consumer durables while selling was seen in autos, banks and finance stocks.

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Stocks that were in focus include Hindalco which closed with gains of over 7 per cent, GAIL India Ltd also rallied 7.4 per cent and Fine Organic Industries pared gains after hitting 52-week high to close flat on Monday.

Here's what Jatin Gohil, Technical Analyst at Reliance Securities, recommends investors should do with these stocks when the market resumes trading today:

Hindalco: Buy on dips | Target: Rs700 | Time Duration: 1-2 Months

Continuing its prior daily up-trend, the stock recorded a new lifetime-high of Rs 580. Major moving averages are sloping upwards, and its key technical indicators are positively poised.

The stock has the potential to keep exploring uncharted territory, which could lead it towards Rs 650 initially and Rs 700 subsequently.

In case of any decline, the stock will find support around the Rs 520-510 zone. A fresh long position can be initiated at the current juncture and on dips towards Rs 555-540.

Gail India: Buy above 151 | Target: Rs170 | Time Duration: 4-6 Weeks

The stock reversed before testing its short-term support zone (placed around Rs 125) and rose to 3-week closing high thereafter.

Its key technical indicators are in favor of the bulls. On the higher side, the stock will face a minor hurdle around Rs 148-151 zone.

A stable move above that zone could take the stock towards Rs163 initially and Rs170 subsequently.

Fine Organic Industries: Buy on dips | Target: Rs 5,000 | Time Duration: 2-3 Months

Since September 2o21, the stock remained upbeat and closed month on a positive note.

In the last month, the stock remained in favor of bulls and reported a gain of 10%.

As per the current setup, further, up-move cannot be ruled out.

On the higher side, the stock will face a hurdle around its psychological resistance of Rs 5,000. In case of any decline, the stock will find support between Rs3,650 and Rs3,500.

A fresh long position can be initiated at the current juncture and on dips towards Rs4,100-3,900.

(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.)