Big Movers on D-Street: What should investors do with Delhivery, IndiGo and EaseMyTrip?

Benchmark indices started the week on an optimistic note amid positive cues in the global markets. The BSE Sensex rose 99 points to settle at 62,724, while the broader Nifty advanced 38 to end above Rs 18,600 levels.

Among the sectors, realty index jumped 1.48% and IT climbed 1.47%, oil & gas was up 1.05%, while power emerged as the only laggard.

Stocks that were in focus include names like Delhivery, which gained 9.14%, IndiGo, which was down 1.93% and EaseMyTrip, whose shares rose 2% on Monday.


Here's what Riches Vanara, Technical And Derivatives Analyst at Stoxbox, recommends investors should do with these stocks when the market resumes trading today:

Delhivery - Avoid
The price action has been consolidating in a multi-month sideways channel and is currently trading near the upper end of the pattern.

The stock lacks EPS, price strength, and relative performance compared to Nifty while it awaits a breakout confirmation. We reckon to avoid chasing the stock and wait for a decisive weekly close above Rs 403.

IndiGo - Buy
The pattern analysis on the weekly timeframe shows that the price action has staged a bullish breakout from an elongated rounding bottom.

The price action retested the breakout zone now acting as immediate support with a drawdown on relatively lower volume.

We anticipate a potential upside of 9% to the level of Rs 2,616 that coincides with a 127.2% retracement level whereas the support comes in at Rs 2300

EaseMyTrip - Avoid
Stock made its life high in the month of Nov-22 and since then, it is continuously facing supply on every rise. The momentum indicators remain in sell mode. We reckon to avoid this stock at this point in time.

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