adani power share price: Big Movers on D-St: What should investors do with Adani Power, Deepak Fertilisers and Apollo Tyres?
Sectorally, buying was seen in telecom, consumer durables, IT, finance, and FMCG stocks while some selling was seen in auto and capital goods stocks.
Stocks that were in focus include
which rose 5 per cent, which hit a 52-week high and closed with gains of over per cent, and which rose more than 4 per cent.
Here’s what Akhilesh Jat, Category Manager – Equity Research, CapitalVia Global Research recommends investors should do with these stocks when the market resumes trading today:
Adani Power: Buy at Rs 381| Stop Loss Rs 368| Target Rs 400
Shares price of Adani Power closed in the green for the sixth consecutive session. During the session, the stock prices hit a fresh all-time high of Rs 380.45. The stock has risen over 281% on NSE in the calendar year 2022, so far.
The stock is trading in higher-highs and higher-low formation and can be seen trading in a rising channel on broader charts.
Deepak Fertilisers: Avoid
After several days of volatility, the share price of Deepak Fertilisers stayed in the green for the second day in a row and surpassed the previous all-time high.
The primary trend of the stock is bullish, however, negative divergence in RSI and Gravestone Doji formation at the top show trend reversal, so at this juncture, one should avoid fresh entry into this stock.
Apollo Tyres: Buy at 262| Stop Loss Rs 252| Target Rs 278
Shares price of Apollo Tyres continued its positive momentum for the fourth straight session. The stock has rallied over 18 per cent in August 2022 so far to hit a fresh 52-week high.
MACD on the Daily chart crossed the Zero Line with a positive crossover which indicates it may continue its upward trend. Breakout of the immediate resistance level of Rs 262 may lead big bull run in the near term.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
