Big movers on D-Street: What should investors do with Infosys, Shriram Finance and Hindustan Copper?
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Stocks that were in focus included names like Infosys, which rose 0.16%, Shriram Finance, which jumped 3.8%, and Hindustan Copper, whose shares increased 6.44% on Thursday.
Here’s what Riyank Arora, Technical Analyst at Mehta Equities, recommends investors should do with these stocks when the market resumes trading today.
Infosys
The stock is trading around its important support levels 1635 and a major resistance level of 1700. The overall sentiment is looking sideways as the stock trades on a flattish note. Any break below the support or above resistance should trigger the next rally in stock.
Shriram Finance
The stock is trading around the crucial support mark of 2300 and moving in an uptrend. As the momentum extends, it is expected that the stock should eventually head higher towards the 2500 and 2550 mark. Any downside towards 2400 should offer a good buying opportunity for the stock.
Hindustan Copper
The stock has given a good breakout above its crucial resistance mark. With the overall outlook on metal stocks being positive, it is expected that the stock should head higher towards 280 and 300. A strict stoploss at 260 should be kept as the moment extends further.
(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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