Big movers on D-Street: What should investors do with Paytm, Nucleus Software and Aarti Drugs?
Stocks that were in focus include names like Paytm, which fell 3.14%, Nucleus Software, which declined 6.04%, and Aarti Drugs, whose shares jumped 6% on Thursday.
Here's what Viral Chheda, Sr. Technical Analyst at SSJ Finance & Securities, recommends investors should do with these stocks when the market resumes trading today.
Paytm
After making an all time low around 310 in May 2024, price has given a sharp upside move to make the high of 605. Price has given almost 100% returns from its lower level as buyers were having the upper hand over bears.
Higher Top Higher Bottom pattern was also formed during this rally. Currently stock is overpriced and can see some dips from here. On the lower side it has the supports between 500-480. For long term stock looks good but we should wait for some dip to make a fresh entry.
The Stochastics Oscillator is moving in a downward trend indicating some more pain from here. Hence one can buy at dips of 500 and further more at dips of 470 with stop loss of 450 on weekly closing basis and upside can be seen till 600-700 in the coming 8-10 months.
Nucleus Software
After making an all time high around 1800 in Jan 2024, price has witnessed a bear run to make the low of 1094 odd levels. For the last 8 months stock is moving in this range and after facing resistance of previous higher level around 1600 stock has witnessed some correction.
As it is a low volume stock, we can't see more upside from here. From here we can see a dip in price and it can test the previous support
