Big movers on D-Street: What should investors do with Star Cement, Suzlon and JSW Infrastructure?
Extending the winning run to the third straight day, benchmark Sensex jumped 597 points on Tuesday on buying in blue-chip stocks and firm trends in global markets.
Stocks that were in focus include names like Star Cement, which rose 5% and Suzlon, which gained 3.9% and JSW Infra, whose shares jumped 1.6% on Wednesday.
Here's what Riyank Arora, Technical Analyst at Mehta Equities, recommends investors should do with these stocks when the market resumes trading today.
Star Cement encountered significant selling pressure upon reaching the trendline resistance at Rs 222, as evidenced by the long wick rejection from higher levels. This suggests the likelihood of profit booking in the near term. The stock has a critical support level at Rs 200, and a breakdown below this could lead to further declines toward Rs 190 and Rs 185.
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