Big Movers on D-St: What should investors do with PFC, REC and TD Power?

Indian markets closed in the green for the second consecutive day on Tuesday tracking positive global cues.

Sectorally, buying was seen in IT, PSU banks, pharma, as well as banks while some selling was visible in media, metals, auto, and FMCG stocks.

Stocks that were in focus include names like PFC which closed with gains of over 4%, REC which rose more than 2%, and TD Power Systems which rallied more than 10% on Tuesday.

Here's what Viral Chheda, Technical Analyst, SSJ Finance & Securities recommends investors should do with these stocks when the market resumes trading today:

PFC: Buy
After making a low of around 100 in October 2022, the stock has witnessed a sharp bull run to make a high of 147.8 odd levels. Volumes were quite high during this period.

From highs, the price gave some profit booking as it retraced almost 39% of the previous rally to make a low of around 130-odd levels.

After making a double bottom around the lower level, the price gave a sharp pull back and this week, it breached the previous highs to make a 52-week high of 156 levels.

The Stochastics Oscillator is moving in an upward trend along with an increase in volume indicating further upside from here.

The stock is also moving above all the major averages which is a good sign for an upside move. One can buy the stock at the current level and more on dips of 140 with a stop loss of 129 on a weekly closing basis.

On the upside, we can see the level of 200-240 in the next 10-12 months.

REC: Buy
After making multiple bottoms around 91, the price has given some upside rally to make a high of 114.5 odd levels. The price has made a Higher Top and Higher Bottom pattern during this period.

In the month of December 2022, the price moved in a choppy range of 100 to 115 and once the range was breached in the month of January 2023, the price witnessed an up move to make a high of 123.5 odd levels.

Price has some minor resistance till 127 and once this level is taken away, we can see a sharp bull run till 150-180 level.

The Stochastics Oscillator is moving in an upward trend along with an increase in volume indicating a strong upside move.

One can buy the stock at this level and more on dips of 110 odd level with a stop loss of 100 on a weekly closing basis. On the upside, levels of 150-180 can be seen in the next 8-10 months.

TD Power: Buy
From March 2022 to April 2022, the stock moved in a range of 63 to 76 odd levels. Once it breached the consolidation phase on the higher side, the price gave a sharp upside move to make an all-time high of 137 off levels.

From highs, the price witnessed some profit booking as it retraced almost 58% of the previous rally to make a low of 95.85 odd level.

At a lower level, the price took the support of 50-WMA at 95.4 and gave a pullback to make a new all-time high of 139 odd levels. The Stochastics Oscillator is moving in an upward trend and also volumes are quite high, indicating further upside from here.

One can buy the stock at the current level and more on dips of 124 with a stop loss of 110 on a weekly closing basis. On the upside, we can see level of 170-200 in the next 10-12 months.

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