Buy, Sell or Hold: What should investors do with Tanla Platforms, JSW Energy & Raymond?

Indian market bounced back on Tuesday after falling for 4 consecutive sessions in a row. The S&P BSE Sensex rallied by nearly 200 points while the Nifty50 managed to close above 17500 levels.

Sectorally, buying was seen in metals, power, utilities, and realty stocks while some selloff was seen in IT space.

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Stocks that were in focus include Tanla Platforms that closed with gains of about 5 per cent, JSW Energy closed with gains of nearly 5 per cent and Raymond rose nearly 16 per cent.

Here's what Vijay Dhanotiya, Lead of Technical Research at CapitalVia Global Research Limited, recommends investors should do with these stocks when the market resumes trading today:

Tanla Platform: Avoid

Tanla had given a breakout from a Flag formation. The stock has been trading in the momentum since then, but we have observed indicators like EMA and MACD indicating that the stock is in overbought sought zone.

The momentum in the stock is likely to break in the next few sessions. We don’t recommend taking position in the stock from these levels.

JSW Energy: Buy

JSW Energy has reversed from the previous breakout near the level of 280, and we have observed that the momentum indicators like EMA and RSI, are indicating that the stock will gain momentum from these levels.

We recommend a buy in JSW Energy above 310 with a target of 400, and a stop loss can be placed below 275.

Raymond: Buy

The stock is in a bullish trend and has given a breakout from an ascending channel. The stock can retest the levels of the ascending channel.

We have observed indicators like RSI and MACD indicating the momentum in the stock is likely to continue in the long run.

We recommend a buy in Raymond near the levels of 540 with a target of 650, and a stop loss can be placed below Rs 485.

(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.)