Big movers on D-Street: What should investors do with Bajaj Finance, Tata Technologies and Minda Corp?
Stocks that were in focus include names like Bajaj Finance, which rose 0.34%, Tata Technologies, which declined 3.13%, and Minda Corp, whose shares fell nearly 0.4% on Monday.
Here's what Kushal Gandhi, Technical Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today.
Bajaj Finance
The analysis of price movement on the weekly time frame indicates that Bajaj Finance's share price has been trading within a broad range of 36% over the past 4 years, displaying a sideways trend. However, there is evidence of a gradual increase in bullish momentum, reflected in the formation of higher-lows.
Pattern analysis suggests the emergence of a double-bottom pattern, signalling a potential trend reversal. As the market strives for equilibrium between buyers and sellers and shows improving relative strength compared to the Nifty50 index, the share price presents a compelling opportunity with low risk and high reward potential.
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