Big Movers on D-St: What should investors do with FACT, RCF, Linde India and United Spirits?

Indian markets snapped a two-day winning streak on Wednesday tracking weak global cues.

The S&P BSE Sensex fell more than 600 points while the Nifty50 managed to hold on to 18000 levels.

Sectorally, selling was seen in metals, realty, utilities, energy, and oil & gas stocks.

Stocks that remained in focus include names like FACT which rose by about 5%, Rashtriya Chemical Fertilisers which gained over 3%, Linde India which closed flat with a negative bias, and United Spirits which fell by about 2% 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:

FACT: Book Profits
Fertilizer stocks are on a Bullish trend since last month. The farming sector is expected to have a good 2022-23 rabi season because of healthy monsoons.

Recently, I shared my analysis for FACT to buy in the support range of 260-270, and targets of 320 and 360 have been achieved.

Its trend is bullish but now RSI on the weekly time frame is at 80+ which indicates that the stock is in the overbought zone. As per the analysis, traders can book profits.

And for fresh entry, one can adopt to buy support strategy where the support range is 290-300 levels. Targets are in the range of Rs 365 and 390 levels. Keep a stop loss at 240 on a closing basis.

RCF: Buy
Rashtriya Chemicals & Fertilizers 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.

In the recent trading session, we saw positive price action in RCF despite Nifty's negative movement. As per the expectation of healthy monsoons and govt support to the sector, we are seeing positive momentum.

The overall trend for RCF is bullish, it has given a breakout of more than one-year price consolidation on the weekly chart. Traders should buy RCF in the 127–130 range with a stop loss of 94. On the upside, 168 and 190+ levels are anticipated.

Linde India: Buy
Linde India is a member of Linde Plc. which is a leading global industrial gases and engineering company in India with sales of $31 billion.

Technically, a symmetric triangle pattern has been formed; as a result, the counter may rise from its current range of 3400–3435 to the targets of 4100+ level.

One should keep a bullish outlook on it and can benefit from the momentum as long as it maintains above the 3000 level on a closing basis.

United Spirits: Buy
The stock of United Spirits is bullish on the daily chart. We saw trendline support, as well as positive divergence in RSI. One can buy it in the range of 845-850 with a stop loss of 820. Targets are placed at 920 and 990.

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