The Indian market extended losses for the third day on Tuesday as benchmarks Nifty50 and Sensex ended with marginal cuts of less than 0.3%. The broader Nifty50 ended near 15,700 and the Sensex closed around 52,700 as wholesale price-based inflation rose to a record high of 15.88 per cent in May on rising prices of food items and crude oil. The Wholesale Price Index-based inflation stood at 15.08 per cent in April and 13.11 per cent in May last year. 

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In the broader market, Nifty midcap fell by 0.2% and small case declined by 0.6% as India VIX (Volatility Index) closed near 22-mark.  

On sectoral front, Nifty oil & gas declined the most (1.2%), followed by auto (0.5), Financial Services and PSU Bank declined 0.4% each. Metal, Healthcare, Pharma, Realty and IT witnessed some buying interest.  

Markets are witnessing pressure ahead of the crucial US Fed meet outcome scheduled for Wednesday, given the inflation data at a 40-year high in the US, expectations of 75 bps hike have increased, said said Ajit Mishra, VP - Research, Religare Broking Ltd. 

"We thus reiterate our cautious view on markets and suggest limiting leveraged position ahead of the event," he added.  

Meanwhile certain stocks came in focus on Tuesday. These stocks were Shilpa Medicare, Mastek and TCNS clothing. Shilpa Medicare ended over six per cent higher, Mastek dropped more than five per cent and TCNS clothing settled with nearly eight per cent  gains on Tuesday.  

Here is what Vijay Dhanotiya, Lead Technical Research at CapitalVia Global Research recommends investors should do with these stocks 

Shilpa Medicare 

Shilpa Medicare Limited is a company that manufactures bulk pharmaceuticals, active pharmaceutical ingredients (APIs), and intermediates, as well as generates wind power. The stock is currently trading at a PE of 56.64, compared to a sector PE of 32.52. Stocks have fallen 26.75 percent from their 52-week high of Rs 670.4 to Rs 447 in the last year. 

Currently, the stock is trading below its 100 and 200 SMAs, indicating that it is in bearish territory. Apart from that, the stock has an up trendline support and is trading around it, so buy at Rs 447 with a stop loss of Rs 380 with a target price of Rs 515. 
  
Mastek 
Mastek Limited is a company that specialises in IT solutions. IT consulting, application development, systems integration, data warehousing, application security, and CRM services are among the company's business and technological offerings. Despite the fact that the market is under pressure from rising inflation, the dollar index, and fears of a global recession, Mastek has returned 18.17 percent in the previous year. The company is selling at a PE of 24.81, which is lower than the sector's PE of 25.18, indicating valuation comfort. Technically, the stock recently had a Death Crossover on the 100 and 200 SMA, so we'll have to wait a while before buying at Rs 2200 with a stop loss of Rs 1950 for a target price of Rs 2700 in the near future. 
 

TCNS 
TCNS Clothing is an India-based firm that provides a women's apparel platform. It is currently trading at a price-to-book ratio of 5.57. Due to higher input costs, the company is experiencing margin pressure, which is expected to last for a few more quarters. Stocks are currently trading in a broadening upward channel and are currently trading near the lower band of the channel, therefore investors can purchase shares around Rs 559.65 with a stop loss of Rs 500 for a target price of Rs 700 in the short term.

(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.)