Big movers on D-Street: What should investors do with Angel One, Sobha, and Tata Chemicals?
Stocks that were in focus include names like Angel One, which rose 6.67%, Sobha, which fell 1.2%, and Tata Chemicals, whose shares increased 3% 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.
Angel One — Bullish
The stock is trading in a rising wedge pattern and is consistently seen to be making higher highs and higher lows. With the overall trend being positive it is expected that Angel One should touch the 3300 mark.
Immediate Support lies near the 3000 mark.
Sobha — Bullish
The stock has its immediate support at the 905 mark. With the stock pulling back from 1004.95 levels and approaching the demand zone, it should offer a good buying opportunity around those levels.
Major support lies at the 875 mark, below which the stock would become weak.
Tata Chemicals — Bullish
The stock has broken out above its crucial resistance mark of 1000 and managed to close around 1012 levels.
With the stock giving a good closing above its down-trend lines and volumes picking up, the stock is poised for an up-move towards the 1050-1060 mark with a tight stop loss placed below the 980 mark.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
