Equity indices ended lower on Thursday due to selling pressure in index majors as investors turned cautious ahead of the inflation data announcement.Stocks that were in focus include names like Ultratech Cement, which fell 0.8% and Bajaj Auto, which declined 1.05% and DMart, whose shares fell 0.4% on Thursday.Here's what Ameya Ranadive Sr Technical Analyst, StoxBox, recommends investors should do with these stocks when the market resumes trading today.UltraTech CementUltraTech Cement is currently trading at Rs 11,856 and remains in a no-trade zone. The stock exhibits a significant long-term consolidation phase beginning in June 2024, with tight price movement within the Bollinger Bands. A decisive breakout above Rs 12,100 would signal a strong bullish move, targeting Rs 12,850 and Rs 13,100.The RSI stands at 61.51, indicating bullish momentum but not yet in the overbought territory, which aligns with the potential for further upside upon a breakout. Additionally, the ADX value of 24.34 reflects a moderate trend strength, suggesting the stock is gearing up for a directional move.Traders are advised to wait for a confirmed close above Rs 12,100 before initiating long positions. Caution is warranted until then, as the current zone lacks clear directional cues. This consolidation may set the stage for a robust breakout, making it a stock to watch in the coming weeks.Avenue Supermarts (DMart)Avenue Supermarts (DMart) is currently trading at Rs 3,688, reflecting significant weakness in its price action. The stock is down approximately 32% from its 52-week high of Rs 5,400, signaling strong bearish pressure.Technical indicators depict a lack of momentum. The RSI at 37.19 highlights bearish conditions, remaining in oversold territory without signs of recovery. Bollinger Bands indicate low volatility, with the stock consistently trading below the midline. Additionally, the ADX at 23.69 confirms a moderately strong bearish trend, while the DI- is clearly dominating, suggesting sellers are firmly in control.DMart faces stiff resistance at Rs 3,740, while support lies at Rs 3,579. A breakdown below these levels could accelerate further downside. Investors should approach cautiously, as the current trend signals no immediate signs of reversal. The stock requires a significant fundamental or technical trigger to regain positive momentum.Bajaj AutoBajaj Auto is trading at Rs 8,963, reflecting continued bearish sentiment. The stock has declined significantly from its peak of Rs 12,800, down nearly 30%. Currently, the price is consolidating in a tight range between Rs 8,943 and Rs 9,223.Technically, the RSI stands at 34.61, indicating oversold conditions, but no significant reversal signals are present. The Bollinger Bands suggest low volatility, with the stock trading near the lower band. The ADX at 41.43 confirms a strong trend, with the DI- dominating, highlighting bearish pressure.Bajaj Auto has strong resistance at Rs 9,223 (200 EMA), and only a decisive break above this level can indicate a potential recovery. On the downside, Rs 8,562.25 is critical support. While the stock may offer value at lower levels, entering at this stage carries risk unless confirmation of trend reversal emerges. For now, Bajaj Auto remains a "wait and watch" rather than a buy.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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