Sector-wise, buying was seen in utilities, power, banks, public sector and energy, while selling was seen in metals, real estate, telecoms and capital goods.
Stocks in focus included names like BLS International, which rose more than 10%,
which pared gains after hitting a new 52-week high and was up almost 11% on Monday.
Here’s what Vikas Jain – Technical Research Analyst at Securities – recommends for investors to do with these stocks when the market trades again today:
BLS International: Book profit
The stock made a new high after breaking above 160 levels. We believe it has completed its bullish stance over the past 8 months, doubling from its previous highs in a very short period of time.
Post the bonus corporate action, the momentum is fast. The monthly Relative Strength Index (RSI) is trading at 87 levels and the daily RSI also looks overbought. We expect some retracement in the stock and it could retest 258 levels (22nd July high).
Bundesbank: Hold| Target: 160
The stock has started to outperform in the current quarter after a long time.
It has made higher lows in the 105-109 range on the weekly charts and the indicative target is 160 based on the current setup.
On the upside, the stock has a crucial support near the Rs 120-124 levels which are closer to the range of the short to medium term moving averages.
: Hold | Goal: 270
The stock saw a sharp breakout from its 200-day moving average with strong volumes after a double bottom formation near 195 levels.
It should face some resistance at 270 and a crossover of that would extend the upside to 310-320 in the next few months.
The RSI pierced the weekly candle up, indicating positive momentum to continue from the current levels.
(Disclaimer: Experts’ recommendations, suggestions, views and opinions are their own. These do not represent the views of Economic Times.)
https://economictimes.indiatimes.com/markets/stocks/news/big-movers-on-d-st-what-should-investors-do-with-bls-international-federal-bank-and-irb-infrastructure/articleshow/94931009.cms bls international share price: Big Movers on D-St: What should investors do with BLS International, Federal Bank and IRB Infrastructure?