The Economic Times daily newspaper is available online now.

    Big Movers on D-St: What should investors do with HUDCO, Railtel Corp and IRFC?

    Synopsis

    Sectorally, buying was seen in banks, capital goods, industrials, and IT stocks while selling was seen in metals, utilities, power, and realty.

    Big Movers on D-St: What should investors do with HUDCO, Railtel Corp and IRFC?Agencies
    Indian market closed in the green for the second consecutive day on Wednesday.

    The S&P BSE Sensex rose more than 100 points while the Nifty50 managed to close above 18400 levels.

    Sectorally, buying was seen in banks, capital goods, industrials, and IT stocks while selling was seen in metals, utilities, power, and realty.

    Stocks that were in focus include names like HUDCO which rose more than 13%, Railtel Corp hit a fresh 52-week high while IRFC closed with gains of nearly 7% on Wednesday.

    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:

    Railtel Corp: Buy at 131| LTP Rs 138| Stop Loss Rs 125| Target Rs 144 & 148
    Shares price of Railtel Corp surged as much as 6.96% intraday to hit its fresh 52-week high. The stock has gained nearly 20% of its market value in the calendar year 2022, so far.

    The primary trend of the stock is bullish as prices are trading in Higher-High & Higher-Low formations and sustaining above the 200-Day moving average.

    However, a negative divergence occurred in RSI. So, one should keep a buy-on-dips strategy on the counter as MACD on the daily chart indicate it may continue its upward trend.

    HUDCO: Avoid
    As on 16th Nov 2022, shares of HUDCO rallied over 15% with huge volume after the company reported a 7% YoY rise in net profit.

    The stock prices hit a fresh 52-week high. One should wait for the fresh entry; if it gives two consecutive closings above the 48 level, then we can expect a further upward rally in this counter.

    IRFC: Buy at Rs 27| LTP Rs 26.95| Stop Loss Rs 25| Target Rs 30
    Shares price of IRFC rallied over 16% after the company posted its quarterly numbers to hit its fresh all-time high of 27. The stock has breached the immediate key resistance level after four consecutive positive streaks.

    Momentum oscillators RSI continued their Higher Low formation and the MACD indicator sustained above zero levels with positive crossover suggesting a further upside movement in the near term.

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



    (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


    (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
    The Economic Times

    Stories you might be interested in