The Indian market closed with half per cent cuts on Tuesday as it extended losing streak to secondary day amid volatility and inflation fears. The broader Nifty50 slipped below 16, 200, while the Sensex shed over 200 points as benchmarks closed at 16,125 and 54052 respectively. The market was dragged by profit booking in IT, FMCG, media and metal stocks. Following benchmarks, Nifty midcap and small cap too declined 0.6% and 1.2% respectively as India VIX approached 26-mark.  

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Sector-wise, Nifty Media declined over 2%, while Nifty IT, FMCG, Pharma, Metal and Realty significantly corrected too.  

Anxiety of slowing economy and rising interest rates underpinned by soaring inflation continued to haunt the global market, said Vinod Nair, Head of Research at Geojit Financial Services, 

"The UK and Eurozone composite PMI registered the slowest rise in business activity in the month of May, worsening global investor risk sentiment. On the domestic front, while all major sectors succumbed to the pressure, the auto sector bucked the market trend this month gaining on fuel price cut and rise in steel custom duty, the expert added," he added.  

Meanwhile certain stocks, based on their movement on either side, came in focus on Tuesday. These stocks were Jindal Stainless, Shilpa Medicare and Divi's Laboratories. Jindal Stainless closed around 5% lower, Shilpa Medicare surged more than 10% and Divi's Laboratories dropped 6% on Tuesday.  

Here is what Vijay Dhanotiya, Lead Technical Research at CapitalVia Global Research, suggests investors should do with these stocks when the market resumes trading on Wednesday. 
 

Divi's Laboratories 
Sell: 3649 
SL: 3800 
TGT: 3200 
Share price of Divi's Laboratories tumbled over 15 per cent in two trading sessions to hit its fresh 52-week low despite the better-than-expected quarterly result. Net profit of the company increased over 78% to Rs 894 crore for the quarter ended March, 2022 as compared to ₹502 crore in the same quarter last year. While revenue up by 40% during the fourth quarter YoY. On the technical front stock is sustaining below all the important moving averages, momentum oscillators RSI continue its lower Low formation and MACD indicator sustaining below zero levels with negative crossover suggest further downward movement in the prices. 

Shilpa Medicare  
Buy: 460 
SL: 440 
TGT: 485 & 530 
Share price of Shilpa Medicare rallied as much as 14.9 per cent intraday with heavy volume rise ahead of the strong quarterly numbers. Net sales of the company surged by 64 per cent, while net profit jumped over 277 per cent in the last quarter. On the technical front, stock prices closed above the 21 & 50 DEMA. Momentum oscillators RSI head upwards and read at 58 which indicates positive movement. 

Jindal Stainless 
Sell : 115 
SL: 122 
TGT: 104 
Share price of Jindal Stainless tanked over 5 per cent for two consecutive sessions on May 24, 2022. Prices declined by over 47 per cent from its all-time high and are sustaining below the key support level. Stock is trading below its 21, 50 & 200-Days Exponential Moving Averages. Additionally, the stock has also given the breakout of its Bearish continuation pattern Bearish Flag on daily chart, that suggests the bearish trend may continue in near term.