Buy, Sell or Hold: What should investors do with IGL, Motherson Sumi and Mahanagar Gas?

Indian market closed higher on Tuesday after four consecutive days of decline. The S&P BSE Sensex rallied nearly 600 points while the Nifty50 reclaimed 16000 levels.

Sectorally, buying was seen in realty, IT, healthcare, capital goods, and telecom stocks while selling was seen in metals and oil & gas stocks.

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Stocks that were in focus include IGL which closed with gains of over 9 per cent, Motherson Sumi closed flat with a loss of nearly 1 per cent, and Mahanagar Gas rallied over 6 per cent 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:

IGL: Buy

IGL has reversed from the previous breakout levels and has been following a positive momentum after the reversal. We recommend a buy on the stock above 376 with a Target of 500 and Stop Loss of 275.

Motherson Sumi: Avoid

Motherson Sumi has been trading below the levels of 200-Days EMA and is near to the 52-week lower levels. We do not recommend buying Motherson Sumi at these levels.

Mahanagar Gas Ltd: Buy

MGL has reversed from near the previous support levels and has been following a positive momentum after the reversal. We recommend a buy on the stock above Rs 775 with a target of Rs 1,100 and a stop loss of Rs 650.

(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.)