nykaa share price: Big Movers on D-St: What should investors do with RVNL, Apollo Tyres, and Nykaa?
The S&P BSE Sensex rallied more than 200 points while the Nifty50 closed above 1400 levels.
Sectorally, buying was seen in infra, oil & gas, telecom, banks, public sector and utilities while selling was seen in metals, as well as capital goods stocks.
Stocks which were in focus included names like
which was up 11%, which rose over 4%, and which fell more than 9% on Tuesday.
Here’s what Viral Chheda, Technical Analyst, SSJ Finance & Securities recommends investors should do with these stocks when the market resumes trading today:
Rail Vikas Nigam Ltd: Book Profits
From February 2022 to October 2022, the price has moved in a range of Rs 29-37 odd levels. Once the stock breached the pattern on the higher side, it witnessed a sharp Bull Run as it made an all-time high of Rs 60-odd levels.
Volumes were relatively high during this period. As the stock has moved almost 47% in this month, some corrections can be seen from here. The Stochastics Oscillator is also moving in the overbought zone.
Hence, one should book some profit at this level and wait for some correction to make a fresh entry around Rs 50 and more at dips of Rs 45 with a stop loss of Rs 40 on a weekly closing basis for further upside till Rs 80-100 odd levels in the next 10-12 months.
Apollo Tyres: Buy
On the daily chart, the stock bounced back from a low of Rs 167 odd level. It has given a sharp upside rally to make a 4-year high of Rs 303.50 odd level in September 2022.
Volumes were high during this period. Next two months we have seen price move in a range of Rs 260-300 odd levels. Breakout from this consolidation phase will give a 15-20% upside rally.
More buying has been seen at this level which indicates the probability of going up further. The Stochastics Oscillator is moving in an upward trend along with an increase in volume, indicating an upside.
One can buy above Rs 305 odd levels and on dips of Rs 280 with a stop loss of Rs 265 on a weekly closing basis for an upside level of Rs 370-400 in the next 6-8 months.
Nykaa: Hold
After opening around 30% higher on listing day in November 2021, the price continued its upward move to make an all-time high of Rs 429 odd levels.
From a higher level, the price witnessed some selling pressure as it gave a sharp selloff to make an all-time low of Rs 162. Lower Top Lower Bottom formation was seen during this period.
After consolidating near the lower level price has given some pullback and once it goes and closes above Rs 225 odd level we can see further upside till Rs 280-300 level.
The Stochastics Oscillator is moving in an upward trend and volume has increased which indicates some bull run.
At this stage, one should wait for a breakout above Rs 225 and then can enter at that level for an upside level of Rs 280-300 odd levels.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
