Big movers on D-Street: What should investors do with Persistent Systems, Dabur and LTIMindtree?
Sensex fell 247 points to settle at 65,629 points, while Nifty declined 46 points to end at 19,624 points.
Stocks that were in focus included names like Persistent Systems, which rose 2.26%, Dabur, which gained 1.22%, and LTIMindtree, 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.
Persistent Systems — Buy
In the daily chart after making multiple lows around 4650, price has given a sharp upside rally to make an all time high of 6035 odd levels.
Volumes were on rise as buyers were having full control on price.
In the last 30-35 days price has witnessed some profit booking and moving in Downward Falling Channel and today with high volume price has breached the channel on positive note and moving above that level indicates further upside from here.
The stock is moving above all three major averages which is a positive sign for further upside.
The Stochastics Oscillator is also moving in an upward trend along with the marginal increase in volume indicating further upside from here.
Hence one can buy at current levels and more at dips of 5700 with SL of 5550 on weekly closing basis and upside can be seen till 6350-6670 in next 6-8 months.
Dabur
After making doubletop around 594 in the month of July 2023, price has witnessed sharp corrections; it made a low of 533 odd levels. Lower Top Lower Bottom pattern was seen asBears were having upper hand on price.
Stock has given almost 15% corrections from its all time high level and today with high volume price has even gone down to test its 5 months lower level of 520 odd levels. Stock is currently in bear mode and can
