Big movers on D-Street: What should investors do HDFC AMC, KFin Technologies, and EasyTrip Planners?
Stocks that were in focus include names like HDFC AMC, which rose 11.5%, KFin Technologies, which gained 6.77% and Easy Trip Planners, whose shares fell 3.22% 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:HDFC AMC: Buy for long term The counter has formed a double bottom formation and also witnessed a breakout of a triangle pattern on the longer timeframe with strong volume. The overall structure of the counter remains favourable for investors, as it continues to trade above all its important moving averages, indicating a sustained long-term upward trend.
On the upside, an important psychological resistance level for HDFC AMC lies in the range of Rs 2500–2520. A successful breakthrough above this level could pave the way for further upward momentum, with a potential target of Rs 2800 in the near to long term.
Traders and investors should closely monitor price action around this resistance zone for potential bullish signals. During any corrective moves, the major support level to watch for HDFC AMC is Rs 2000.KFin Technologies: Buy The counter has given a breakout of upward channel formation and also witnessed a breakout of the listing day high at Rs.
373 levels with strong volume. The structure of the counter is very impressive, and trading above its important moving averages, such as the 20-day, 50-day, and 100-day moving averages, indicates a positive trend.
MACD (moving average convergence divergence) is supporting the current strength, whereas the momentum indicator RSI (relative strength index) is also positively poised. On the upside, Rs 400 is an immediate hurdle; above this, we can expect
. Read more on economictimes.indiatimes.com
