Big Movers on D-St: What should investors do with RCF, Adani Gas and Lodha?

Indian market closed flat with a negative bias on Wednesday tracking mixed global cues. S&P BSE Sensex closed above 60,900 while Nifty50 also managed to hold on to 18,100 levels.

Sectorally, buying was seen in consumer durables, oil & gas, energy, and utilities while some selling was seen in metals, healthcare, telecom, and capital goods.

Stocks that were in focus include names like RCF which rallied more than 15%, Adani Total Gas which rose more than 7%, and Macrotech Developers (Lodha) which closed with gains of over 5% on Wednesday.

Here's what Rameshver Dongre, Research Analyst - Equity Research at CapitalVia Global Research Ltd recommends investors should do with these stocks when the market resumes trading today:

RCF: Hold
Rashtriya Chemicals & Fertilizers Ltd. is an Indian central public sector undertaking under the ownership of the Ministry of Chemicals and Fertilizers, Government of India. It produces chemicals and fertilizers and is based in Mumbai.

RCF is the fourth-largest government owned-fertilizer-producer in India. Fertilizer stocks have been on a bullish trend in December till now.

The farming sector is expected to have a good 2022-23 rabi season because of healthy monsoons. Also, hopes that the GOI may announce incentives for the agri sector in the Union Budget added momentum to RCF.

The overall trend is bullish and recently the stock has given a breakout of more than one-year price consolidation on the weekly chart.

On Wednesday, the stock retested the support and resumed upside movement from the support of Rs 110. The investor should continue their position as long as it sustains above 94 level; on the higher side 168 and 190+ levels can be seen.

Adani Total Gas: Hold
Adani Total Gas Limited (ATGL) distributes piped natural gas (PNG) to industrial, commercial, and residential customers. On the weekly chart, the overall trend is bullish.

After reaching a record high of 3912.40, the price is currently trading sideways to lower. Also in the past few weeks, it has formed lower lows and lower highs.

On Wednesday, we saw good recovery from the lower range and managed to close above 50-Day EMA and 3600 level.

On the higher side, it has a trend line resistance in the area of 3700. Once it crosses and sustains above the resistance level, then the new record high is possible.

LODHA (Macrotech Developers Limited): Buy
Macrotech Developers is a real estate company, and after being listed on the NSE, there was a bullish trend that lasted until the end of December 2021.

Technically, it has broken out of the trend line resistance. It is also maintaining above the 50&200 Days EMA and also the 1,000 level.

Investors should maintain a bullish view on it as long as it sustains above the 968 level, and on the higher side 1190 and then 1330 levels can be seen.

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