The domestic stock market declined over one per cent on Thursday in line with Asian peers and SGX Nifty trends amid weak global cues. Benchmarks Nifty50 dropped below 17,500 and the Sensex declined over 800 points in the opening trade on Thursday. IT, Oil & Gas and Metal led the drag, while PSU Bank, Auto and Realty provided much-needed support to the market on Thursday.  

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In the broader market, Nifty Midcap and small cap gained 0.2% and 0.4% respectively, soon after the opening session.  

Earlier, certain stocks came in focus on Tuesday. These stocks were TTML, Federal Bank and JSW Energy. TTML shares jumped around 13% to Rs 123.75 per share in early trade on the BSE on Thursday. Federal Bank traded with nearly one per cent gain to Rs 118 per share and JSW Energy traded higher by two per cent to Rs 350 apiece on the BSE.   

Here is what Rahul Goud, research analyst, Equity Research, recommends investors should do with these stocks 

JSW Energy: Following a big decline, the stock has recovered with sizable volume, trading near to its resistance level at the moment. The rise in volume demonstrates market participants' confidence in the stock. With a Rs 319 stop loss and a Rs 395 target price, JSW Energy may be purchased above Rs 355. MACD indicator is also indicating bullishness in stock. 
 
Federal Bank: Despite the market drop, Federal Bank is currently trading near 3-year high, signaling strength in the company. It recently broke through the Rs. 112 resistance region and closed above it. The ADX momentum indicator is reading 39.41, indicating that the stock has upside momentum. A trader can buy at the CMP price of Rs. 116.9 with a stop loss of Rs. 104 and aim for Rs. 128 in the near future. 

TTML: Since April 2022, TTML has been trading in a downward trend, but on Tuesday the stock broke out on the upside with significant volume and closed above the channel. Stocks above Rs. 111 can be purchased by traders with a stop loss of Rs. 99 and a short-term goal price of Rs. 145. 

(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.)