Big Movers on D-Street: What should investors do with M&M, SBI, ABFRL?
Stocks that were in focus include names like M&M, which gained 4.33%, SBI, which fell 0.86%, and ABFRL, whose shares declined 4.96% on Monday.Here's what Riches Vanara, Technical And Derivatives Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today:M&M — Buy The price action on the daily timeframe evinces a tepid pullback from the pivotal support near 1422 levels. The price action has formed a relatively smaller but constructive base and is attempting to fill the former gap-down area.
The EPS strength and buyers’ demand remain relatively stronger. We anticipate the price action to surge to the levels of 1654 and reckon to place the sell stop at 1457.SBI — Avoid The intermediate trend remains negative and the price action has plunged on relatively higher volumes in the previous 3 trading sessions.
The price action has cracked well below its 50 DEMA and we thus recommend avoiding the stock.ABFRL — Avoid The price action has declined over 48% from its life highs at 359 and currently trails under its 200 WEMA. ABFRL has negative sloping relative strength compared to the Nifty index while other momentum indicators show negative bias.
We thus reiterate to avoid the stock. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own.
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