Big movers on D-Street: What should investors do with AB Capital, Aster DM and Vodafone Idea?
Stocks that were in focus included names like AB Capital, which jumped 10.5%, Aster DM, which rose 0.5%, and Vodafone Idea, whose shares declined nearly 3% on Tuesday.
Here's what Viral Chheda, Sr Technical Analyst, SSJ Finance & Securities, recommends investors should do with these stocks when the market resumes trading today.
AB Capital
After making the low around 155 in Dec 2023, price has given a sharp upside move to make an all time high of 199.6 odd levels. Price has given almost 28% returns from its lower level as Bulls were having upper hand over bears.
The stock is currently making a higher top higher bottom pattern. It is moving in Bull Run and closing above its previous all time high level of 199 indicates further upside till 250-280. On the lower side it has support at 165 odd levels, until these lows are intact we can see new highs.
The Stochastics Oscillator is moving in an upward trend along with an increase in volume indicating upside movement with limited downside risk. Hence one can buy at current level and more at dips of 180 with SL of 165 on weekly closing basis and upside can be seen till 280-320 in next 10-12 months.
Aster DM
After making an all time high around 495 in Feb 2024, price has witnessed a bear run to make the low of 402 odd levels. Price has given almost 93 points correction as sellers were having upper hand over bulls.
The stock is currently facing more selling pressure and can see further downside to test the previous lows of 380 levels. On the higher side once the 420
