Big Movers on D-Street: What should investors do with Adani Wilmar, Gujarat Alkalies and NLC India?

The Indian market snapped its two-day losing streak and closed in the green on Tuesday, helped by gains in largecaps such as RIL, Infosys as well as L&T.

Sectorally, buying was seen in power, realty, utilities, auto, and consumer durable stocks. On the broader markets front – S&P BSE Midcap index rose 1.6 per cent, and the S&P BSE Small-cap index rose 0.7 per cent.

Stocks that were in focus include names like Adani Wilmar which was locked in the upper circuit of 5 per cent, Gujarat Alkalies also hit a fresh 52-week high and closed with gains of over 11 per cent, and NLC India hit a fresh 52-week high and closed with gains of over 5 per cent on Tuesday.


Here's what Vijay Dhanotiya, Lead of Technical Research, CapitalVia Global Research Limited, recommends investors should do with these stocks when the market resumes trading today:

Adani Wilmar: Buy
Adani Wilmar has been trading in an uptrend. We have observed that momentum indicators like RSI and MACD indicating positive momentum is likely to continue.

We recommend a Buy on the stock above Rs 805 with a target of Rs 950 and a stop loss can be placed below Rs 720.

Gujarat Alkalies and Chemicals: Buy
Gujarat Alkalies has been trading in an ascending channel and has given the breakout of the ascending channel.

It has continued the positive momentum since the breakout. We recommend a Buy on the stock near the level of Rs 1,040 with a target of Rs 1,200 and a stop loss can be placed below Rs 900.

Great Eastern Shipping Company: Buy
GE Shipping has given the breakout of an ascending channel and has picked up momentum since then.

We expect this momentum is likely to continue. We recommend a Buy on the stock above Rs 400 with a target of Rs 540 and a stop loss can be placed below Rs 280.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)