Buy, Sell or Hold: What should investors do with Tata Power, Lupin and Minda Industries?

Indian market snapped a three-day losing streak and closed in positive on Tuesday. The S&P BSE Sensex rose nearly 200 points while the Nifty50 closed above 17250.

Sectoral buying was seen in metals, energy, banks, auto, and telecom while some profit booking was seen in utilities, power, capital goods, and realty stocks.

Stocks that were in focus include Tata Power which closed with losses of nearly 7 per cent; Lupin closed with losses of over 2 percent and Minda Industries fell nearly 8 per cent on Tuesday.

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

Tata Power: Buy

Tata Power had taken the support near the 40-Days EMA and expect a reversal in the stock from these levels, he says.

A buy in Tata Power is recommended above 240 with a target of 300 and a stop loss can be placed below 219.

Minda Industries: Accumulate

Minda Industries is trading near its support zone of the lower band of an ascending channel.

We recommend investors accumulate the stock from these levels and hold with the target of 1250 and a stop loss of 900.  

Lupin: Avoid

Lupin has given a breakout from a ‘Head and Shoulder’ pattern and we expect a further correction in the stock. Hence, we don’t recommend investors buy the stock at lower levels.

(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.)