Big Movers on D-St: What should investors do with HDFC Bank, Adani Enterprises and Adani Transmission?

Sectorally, buying was seen in auto, consumer durables, FMCG, and capital goods while some selloff was seen in metals, IT, and utilities.

Stocks that were in focus include names like

, which closed with gains of nearly 1 per cent ahead of June quarter results, Adai Enterprises which rose 0.8 per cent, and which pared gains after hitting a fresh 52-week high.

Here’s what Santosh Meena, Head of Research, recommends investors should do with these stocks when the market resumes trading today:

HDFC Bank: 50-DMA of 1350 is an immediate support

The counter is bottoming out with a double bottom formation where it needs to cross the neckline of Rs 1400 to gain bullish momentum towards the 200-DMA of Rs 1460 level.

On the downside, 50-DMA of Rs 1350 is immediate support while Rs 1300 is a major base. If we look at the momentum indicators, then MACD and RSI are holding above key levels, but they need to show momentum for any significant strength.

Adani Enterprises: Rally towards 2500-2770 levels

The counter is in a strong bullish momentum where it took support at 100-DMA and created a strong base followed by a minor pullback and now it is again resuming its momentum for a fresh all-time high.

On the upside, the previous swing high of Rs 2421 is an immediate hurdle then we can expect a rally towards Rs 2500/2770 levels. On the downside, the Rs 2300-2250 area has become a strong demand zone.

Adani Transmission: Rally towards 3300-3700 levels

The counter is in a strong bullish momentum where it took support at 200-DMA and created a strong base followed by a healthy correction and now it is again resuming its momentum for a fresh all-time high.

On the upside, the previous swing high of Rs 3000 is an immediate hurdle. After that, we can expect a rally towards Rs 3300/3700 levels. On the downside, the Rs 2600-2500 area has become a strong demand zone.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)