The Indian markets closed with gains of over 1.5 per cent on the first trading day of the New Year. The S&P BSE Sensex rallied by over 900 points, while the Nifty50 closed above the 17600 levels.

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Sectorally, buying was seen in the banks, finance, metals, public sector, and energy stocks, while some selling was visible in the healthcare space.

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Stocks that were in focus, include Tata Motors that closed with gains of over 3 per cent, Tata Teleservices ended with gains of nearly 5 per cent, and Rajesh Exports ended with gains of over 15 per cent.

Here's what Jatin Gohil, Technical Analyst at Reliance Securities, recommends investors should do with these stocks when the market resumes trading today:

Tata Motors: Recommendation: BUY | Target: Rs537

On 3rd Jan’22, the stock extended gain post a breakaway gap and rose to a 1-month closing high of Rs 498. The stock has also given a breakout from its prior highs (Rs 537 and Rs 506) connecting the falling trendline.

The rise in volume and future open interest (OI) suggests that major market participants are in favor of the bulls. This could lead the stock towards its 52-week high of Rs 537 in the short term.

In case of decline, the stock will find support around its 50-day EMA, which is now placed around Rs 466.

Tata Teleservices: Recommendation: Profit booking

Continuing its prior daily rising trend, the stock recorded a new high of Rs 216.65. It was the seventh consecutive daily upper circuit for the stock.

Major moving averages are sloping upwards, while key technical indicators are stuck around their overbought zone. From its lifetime low of Rs 1.80 (March-2020), the stock witnessed a gigantic rise in a very short span.

Overall set-up is bullish, but the risk-to-reward ratio is not favorable for a fresh long position at the current juncture. However, investors can book partial profit here.

Rajesh Exports: Recommendation: BUY | Target: Rs1,150

The stock bounced after one month of consolidation and rose to a new 52-week high of Rs567. Spike in its daily volume seen for the first time since Oct’18.

Major technical indicators are positively poised on the medium-term timeframe chart. The stock has the potential to move towards its psychological hurdle of Rs1,000 initially and Rs1,150 subsequently.

However, the lower band of the consolidation will work as strong support, which is placed around Rs 730.

(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.)