Buy, Sell or Hold: What should investors do with Mannapuram Finance, Zomato and Coffee Day?

Indian market recovered most of the previous day losses on Tuesday tracking positive global cues. The S&P BSE Sensex rallied over 500 points while the Nifty50 closed above 17350 levels.

Sectorally, buying was seen in auto, banks, consumer discretionary, telecom, consumer durables, and IT stocks.

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Stocks that were in focus include Manappuram Finance which closed with losses of over 10 per cent, Zomato closed flat after hitting a 52-week low and Coffee Day rose 10 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:

Manappuram Finance: Avoid

Manappuram has broken the previous support levels near 140 and closed below the support levels. The next support level is around Rs 80 and hence we don’t recommend investors to buy Manappuram at these levels

Zomato: Avoid

Zomato has been trading at its lowest levels and is constantly trading at the lowest levels. We do not recommend buying ZOMATO at these levels.

Coffee Day Enterprises Ltd: Buy

Coffee Day Enterprises has reversed from the previous breakout levels, and it also has a support of 40 EMA. We have observed indicators like RSI and MACD indicating reversal from these levels.

We recommend a buy in Coffee Day near the levels of 62 with a target of 90, and a stop loss can be placed below 48.

(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.)