Stocks to buy today: Ambuja, L&T and Dabur on investors' radar

Stock market indices surged nearly 1% on Wednesday, buoyed by a rally in IT, capital goods and industrial stocks amid a firm trend in global markets.

Stocks that were in focus include names like Ambuja, which fell 4% and L&T, which gained 1% and Dabur, whose shares declined 1.4% 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.


Ambuja
The stock has given a good breakdown below major support mark of 525 and successfully managed to close below the same. Weak technical structure with a rise in volumes is indicating good bearishness in the stock for potential downside targets of 510 and 500. A strict stoploss should be kept at 550 mark to manage risk well.

L&T
The stock witnessed a good breakdown below important support level of 3450 and is currently seen to be re-testing those zones. Weak technical structure shows that the stock can head lower towards 3375 and 3350. A strict stoploss can be kept near 3500 mark to manage risk well.

Dabur
The stock is gently seen to be trading within range of 500-540 as per its daily time frame charts. A strict stoploss for all shorts should be near 540 and we can see potential targets 500 and below coming in on the stock.

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