The Economic Times daily newspaper is available online now.

    Big Movers on D-St: What should investors do with Fine Organic, Elgi Equipments and Eicher Motors?

    Synopsis

    Stocks that were in focus include names like Fine Organic which rose over 15 per cent, Elgi Equipments which added over 3 per cent, and Eicher Motors which gained nearly 2 per cent.

    Big Movers on D-St: What should investors do with Fine Organic, Elgi Equipments and Eicher Motors?ThinkStock Photos
    Indian market closed flat on Wednesday tracking muted global cues. The S&P BSE Sensex fell 35 points while Nifty50 managed to hold above 17,500 levels.

    Sectorally, buying was seen in metals, capital goods, industrials, energy and auto stocks while some selling pressure was visible in IT, realty, consumer durables, and telecom.

    Stocks that were in focus include names like Fine Organic which rose over 15 per cent, Elgi Equipments which added over 3 per cent, and Eicher Motors which gained nearly 2 per cent.

    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:

    Fine Organic: Buy at 6850| Stop Loss Rs 6700;| Target Rs 7100
    Shares price of Fine Organic surged over 17 per cent to hit a fresh all-time high of Rs 6844.95 after the company posted its first quarter result.

    The stock has gained over 84 per cent of its market value on NSE so far in this calendar year. MACD histogram shows strength. A positive crossover suggests that the momentum may continue.

    Elgi Equipment: Buy at 450| Stop Loss Rs 430| Target Rs 480
    Shares price of Elgi Equipment closed in the green for third straight session. Prices rallied over 7 per cent on Wednesday and surpassed their previous all-time high.

    A long bullish Candle after two consecutive indecision candles with marginally higher volume suggests that the stock continues with Higher-Low formation and is likely to move in an uptrend in the near term.

    Eicher Motors: Sell Rs 3200| Stop Loss Rs 3100| Target Rs 3345
    Share price of Eicher Motors is trading in a narrow range for the last couple of weeks. Prices managed to close positive for the second consecutive session on Wednesday.

    Momentum oscillator RSI is headed upwards and standing above the center line, showing strength for upward movement. A breakout from the immediate resistance level of Rs 3200 may lead big Bull Run 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