Big Movers on D-St: What should investors do with HCL Tech, Campus Activewear & Raymond?

New Delhi: Domestic equity indices recovered the early losses on Tuesday and settled higher. BSE Sensex rose about 480 points to close at 57,625, whereas gained over 140 points to settle just shy of 17,125 mark.

Fear gauge India VIX shed about 2 per cent, whereas realty, FMCG and PSU indices gained 2 per cent, followed by one per cent rise in auto, power, utilities, IT and energy sectors each.

Stocks that were in focus include Campus Activewear which hit a new 52-week high before giving up its gains, Raymond which rallied close to 15 per cent after hitting a new record peak and HCL Technologies, which added over a per cent ahead of its Q2 earnings.

Here's what Kavita Jain, Learning Head and Sr. Research Analyst at Arihant Capital recommends investors should do with these stocks when the market resumes trading today:

Campus Activewear: Buy on dips
Shoe Companies are in momentum and newly listed counter Campus Activewear is in action from the last four months and forming Higher High on charts. 20 WEMA of the counter is placed at Rs 532 whereas 61 per cent retracement of last impulse move from Rs 497 to Rs 621 is placed at Rs 544. Leading indicators are poised for further northward journey. Stock is holding its 20 DMA on the daily chart. Any dip till Rs 544 can be taken as a buying opportunity for Rs 660-680 levels with a stop loss of Rs 530.

Raymond: Buy
Raymond is trading in blue sky territory and crossed its previous swing high of Rs 1,278 and made high of Rs 1,284. Counter is in a strong uptrend moving above all important moving averages on all the time frames. Stock is witnessing breakout of bullish price pattern inverse Head & Shoulder on daily chart with great volume. Move above Rs 1284 will be a flag breakout on the daily chart too. Accordingly one can buy the stock at current juncture or at dip near Rs 1196 for the price objective of Rs 1,380 and Rs 1,440 with stop loss at Rs 1,110.

HCL Technologies
Midcap IT counter HCL Tech is forming strong support near Rs 875 level on monthly chart with doji formations in last four monthly candles. However, on the daily chart it is witnessing selling pressure from its 10 DEMA which is currently placed at Rs 971. Decisive closing above Rs 971 will be the confirmation of double bottom formation on the daily chart. One may initiate buy above Rs 971 for price target of RRs 1100 with stop loss of 920 for trading opportunity. Whereas one may initiate long on dips with stop loss of Rs 875 for medium term outlook.

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