Buy, Sell or Hold: What should investors do with NIIT, Paytm and Vedanta?

Indian market bounced back on Tuesday after falling nearly 1 per cent in the previous trading session. The S&P BSE Sensex rallied nearly 700 points, while the Nifty50 closed above 17300 levels.

Sectorally, buying was seen in oil & gas, IT, banks, auto, and telecom stocks while selling was seen in realty, FMCG, healthcare and consumer durables.
 

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Stocks that were in focus include NIIT Ltd which closed with gains of over 13 per cent, Paytm closed with losses of nearly 4 per cent, and Vedanta rose nearly 1 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:

Vedanta: Buy

Vedanta has been trading in an ascending channel. It has also broken its all 52-week high and has picked up momentum since then as well.

We have also witnessed the momentum indicators like RSI and MACD indicating the positive momentum is likely to continue. We recommend investors to buy this stock above 405 with a target of 490 and a stop loss can be placed below Rs 325.

NIIT: Buy

The stock has been trading in an ascending channel. It has given a breakout of an ascending channel. The momentum is likely to continue in the stock.

We recommend investors to buy the stock above 585 with a target of 650 and a stop loss can be placed below Rs 500.

Paytm: Avoid

Paytm has continuously been trading downwards since its debut on the stock exchange. We do not recommend investors to buy the stock at current levels.

(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.)