Here’s what Riyank Arora, Technical Analyst at Mehta Equities, recommends investors should do with these stocks when the market resumes trading today.
Apollo Tyres – Bullish
Apollo Tyres has given a strong breakout above immediate resistance level of 401.50.
The stock is poised for an upside towards 440. With the overall trend being positive, bias remains on the positive side with a strategy to buy on declines towards the 400-405 zone with a stop loss slightly below 390.
Bharat Forge – Sideways
Bharat Forge is trading near an important support level of 1000, a break below which can push the stock towards 975 levels.
With the overall trend being sideways, it is expected that the stock should trade in a range of 80 points, between 1000 to 1080 for the upcoming week.
Adani Ports – Sideways
The stock is awaiting a big breakout above important resistance of 825. A breakout above the 825 mark should push the price towards 845 and 880 levels.
With the overall trend being positive and the stock making higher highs and higher lows, immediate support is near 790, below which the stock would become weak.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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