Big movers on D-Street: What should investors do with Indus Towers, Vodafone Idea and HCL Tech?
Indian market reacted strongly to the US Federal decision to reduce the interest rate to 50 bps on Thursday, as Sensex and Nifty soared to record highs.
Stocks that were in focus include names like Indus Towers, which fell 8.3%, Vodafone Idea, which declined 19%, and HCL Tech, whose shares dropped 0.8% on Thursday.
Here's what Kushal Gandhi, Technical Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today.
Indus Towers
After experiencing a bullish breakout in early April of this year, the stock surged by 40% to reach an all-time high of 445. However, from June onwards, the stock began its distribution phase, signalling a negative trend.
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