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    Big Movers on D-St: What should investors do with TCS, Titan Company and Surya Roshni?

    Synopsis

    Stocks that were in focus included names like TCS which closed with a gain of about 1 per cent, a day ahead of its results on Friday, while Rakesh Jhunjhunwala-owned Titan rose more than 5 per cent, and Surya Roshni gained more than 8 per cent on Thursday.

    Big Movers on D-St: What should investors do with TCS, Titan Company and Surya Roshni?iStock
    Indian market closed in the green for the second day in a row on Thursday, tracking positive global cues. The S&P BSE Sensex rallied more than 400 points while Nifty50 closed above 16,100 levels.

    Sectorally, buying was seen in metals, consumer durables, realty, capital goods and public sector banks. The S&P BSE Mid-cap index rose 1.1 per cent and the S&P BSE Smallcap index closed with gains of 1.3 per cent.

    Stocks that were in focus included names like TCS which closed with a gain of about 1 per cent, a day ahead of its results on Friday, while Rakesh Jhunjhunwala-owned Titan rose more than 5 per cent, and Surya Roshni gained more than 8 per cent on Thursday.

    Here's what Amol Athawale, Deputy Vice President - Technical Research, Kotak Securities Ltd recommends investors should do with these stocks when the market resumes trading today:

    Tata Consultancy Services: 50-Day SMA important breakout level to track
    After a short-term correction, the stock took support near Rs 3020 and bounced back sharply. Post the pullback rally, the stock is hovering in the range of Rs 3200 to Rs 3350 levels.

    The short-term texture of the stock is non-directional, perhaps, traders are waiting for either side to breakout.

    For the bulls, Rs 3350 or the 50-Day SMA would be an important breakout level to watch. And if the stock manages to trade above the same, then we can expect a fresh uptrend rally towards Rs 3400-3450.

    On the flip side, if the stock starts to trade below Rs 3200, then weakness could increase and that could take the stock towards Rs 3150-3120.

    Titan Company: Support seen at Rs 2075-2050
    On last Thursday, the stock opened with a gap of 5 per cent, and post the gap-up opening, it was hovering between Rs 2105 to Rs 2140 price range.

    The stock has rallied over 9 per cent so far in the week. Strong price volume intraday movement indicates the possibility of further upside from current levels.

    For traders Rs 2075 and Rs 2050 would be the immediate support levels to watch out for. A close above this level could take it towards Rs 2200-2250.

    On the flip side, a close below Rs 2050, could increase weakness and in that case, traders may prefer to exit from trading long positions.

    Surya Roshni: Short-term texture of the chart is positive
    On Thursday, the stock opened on a strong note and quickly rallied nearly 10 per cent. But due to profit booking at higher levels, it trimmed some intraday gains.

    Technically, the stock has formed a promising price-volume reversal formation which indicates a continuation of the uptrend formation in the near future.

    We are of the view that the short-term texture of the chart is positive but a fresh uptrend rally is possible only after Rs 400.

    A close above Rs 400 could take the stock towards Rs 420-440. On the flip side, a fresh round of selling is possible if it succeeds to close below Rs 365. Below which, it could slip till Rs 350-345.

    (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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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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