Sectorally, buying was seen in telecom, healthcare, and consumer durable stocks while selling was seen in auto, power, utilities, banks, and finance stocks.
Stocks that were in focus include names like
which was up over 11 per cent, rose more than 8 per cent, and rose nearly 6 per cent on Wednesday.
Here’s what Rahul Goud, Research Analyst – Equity Research, CapitalVia Research at recommends investors should do with these stocks when the market resumes trading today:
EIH Limited offers hospitality services as well as associated ones. The company runs 5-star hotels under the brand Trident and luxury hotels under the brand Oberoi. The stock is up 11.15 per cent on Wednesday.
Since March 2022, the stock has been trading in an upward-sloping channel. On Wednesday, it has broken out of that channel with heavy volume and gained traction in the hospitality sector.
Traders can purchase the stock at the current market price of Rs 200 with a stop loss of Rs 190 and a target price of Rs 225.
Active pharmaceutical ingredients (APIs), vaccines, and pharmaceutical and bio-pharmaceutical formulations are all produced and sold by Wockhardt.
With a price-to-book ratio of 0.88, the stock is now undervalued. Since May 2021, the stock has been declining, but at this point, there are signs that a base is beginning to form, and volumes are beginning to increase.
The MACD momentum indicator is also signalling a bullish breakout. For a target price of Rs 295 in the near future, a trader can purchase the stock at the current market price of Rs 272 with a stop loss of Rs 260.
Hindustan Foods: Buy
Hindustan Foods is a company that produces wholesome food items. Within one month, the stock rose over 8 per cent. It recently broke through the rectangle chart formation with significant volume.
The momentum indicator ADX is also showing an upward slope, which may result in the momentum continuing. The stock can be purchased by the trader at the current market price of Rs 494 with a stop loss of Rs 465 and a short-term target price of Rs 540.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)