Big movers on D-Street: What should investors do with Tanla Platforms, YES Bank and Tata Communications?

economictimes.indiatimes.com:

Sensex fell 231 points to settle at 65,397 and the Nifty declined 82 points to 19,542.

Stocks that were in focus included names like Tanla Platforms, which rose 4%, YES Bank, which gained 1.76%, and Tata Communications, whose shares declined 3.82% on Friday.

Here's what Pravesh Gour, Senior Technical Analyst at Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today.

Tanla Platforms
The counter has witnessed a breakout of a long consolidation on the weekly chart with strong volume. The structure of the counter looks good, as it is trading above all its important moving averages.

In terms of potential price levels, immediate resistance is anticipated at Rs 1150.

Should this level be surpassed, a substantial upward movement towards 1200+ appears probable within the near future. Conversely, any corrective moves might find support around the Rs 985 mark.

Notably, the RSI (relative strength index) momentum indicator is favorably positioned, while the MACD (moving average convergence divergence) reinforces the current market strength.

YES Bank
The primary structure of the counter is continuously following the downtrend.

However, it finds a base at around Rs. 17, which comes at 200 DMA.