Big movers on D-Street: What should investors do with ICICI Securities, Reliance Power and Nykaa?

Equity indices closed higher on Wednesday, helped by gains in FMCG, consumer durables and healthcare stocks amid strong buying support from domestic institutional investors.

Stocks that were in focus include names like ICICI Securities, which fell 7.52%, Reliance Power, which jumped 5%, and Nykaa, whose shares jumped 9.65% 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.


ICICI Securities

ICICI Securities is holding AVWAP support at Rs 760, with immediate resistance at Rs 890. Any pullback towards Rs 760 is seen as a good buying opportunity, with a stop loss at Rs 735.

The stock is gaining momentum, as indicated by RSI (14) at 52.58, and rising volumes suggest continued strength.

Reliance Power

Reliance Power faces resistance near Rs 36.55, with subsequent hurdles at Rs 39.30 and Rs 42.50. The stock is supported at Rs 33, and RSI (14) at 67 reflects strong momentum. With volumes spiking and back-to-back upper circuits, the stock is positioned for further upward movement.

Nykaa

Nykaa has broken out above Rs 204.44 and successfully closed above this level, with overhead resistance now at Rs 240.

The RSI (14) at 68.75 indicates strong momentum, and major support at Rs 195.00 should serve as a stop loss, reinforcing the stock's bullish outlook.

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