Sectorally, selling was seen in telecom, realty, auto, power, and IT while buying was seen in metals, healthcare energy, and oil & gas.
Stocks that were in focus include names like
, which rose nearly 14%, hit a fresh 52-week high while closed with gains of 2% to touch a fresh 52-week high.
Here’s what Akhilesh Jat, Category Manager – Equity Research, CapitalVia Global Research recommends investors should do with these stocks when the market resumes trading today:
Mazagon Dock: Buy@750| Stop Loss Rs 725| Target Rs 790
As on Nov 2, 2022, the share price of Mazagon Dock surged over 17% intraday to hit its fresh all-time high of Rs 693.40. The short-term stock is likely to continue its bullish trend as it has given the breakout of its prolonged consolidation of nearly three weeks.
Additionally, the stock has formed a bullish continuation pattern Pennants in the daily chart and has given a breakout of the same along with a rise in price and volume.
ITC: Buy@350| Stop Loss Rs 338| Target Rs 365-380
Share prices of ITC have closed in the green for eight straight months since March 2022. The stock has been consistently maintaining its uptrend and can be seen trading in a rising channel on broader charts.
Momentum oscillators RSI continue its Higher Low formation and MACD indicator sustaining above zero levels with positive crossover suggesting more upside in the prices.
Sun Pharma: Buy@1070| Stop Loss Rs 1,040| Target Rs 1,120
Pharma giant Sun Pharma continues its positive streak for the third consecutive session after the company reported strong quarterly numbers to hit its multi-year high.
The stock has gained over 26% of its market value on NSE so far in calendar year 2022. The primary trend of the stock is bullish as it is trading in a higher-high & higher-low formation and above the all-important moving averages.
(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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