Big movers on D-Street: What should investors do with Cipla, CDSL and CE Info Systems?

Equity indices ended almost flat in highly volatile trade on Thursday. The 30-share BSE Sensex dipped 5 points to settle at 66,017, while Nifty slipped 9 points to end at 19,802.

Stocks that were in focus included names like CDSL, which rose 4.71%, Cipla, which fell 7.6%, and CE Info Systems, which rose 1% on Thursday.

Here’s what Avdhut Bagkar, Derivatives and Technical Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today.

Central Depository Services (India) Ltd
After a brief correction in the last six sessions, the stock managed to close in green on decisive volumes. This momentum needs to carry ahead to recoup the losing bias. A major move is expected over the 1900 level. Support exists at 1600.

Cipla
Shares of Cipla have broken 50-SMA and 100-SMA placed at 1202 and 1178, respectively. If the stock fails to show reversal, and slips beneath 1150, more sell-off may occur. To alter the negative bias, the stock must robustly close over 1200 mark.

CE Info Systems
The gradual upside in the shares of CE Info Systems continues to remain strong, until the support of 2000 is protected. A move over 2400 shall trigger the next upside in the direction of 2600. The weekly chart suggests selling pressure in the range of 2300 – 2350.

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