Trade Spotlight | What should investors do with Bandhan Bank, Tata Consumer Products, Linde India, Polyplex Corporation on Wednesday?
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Bears took charge of Dalal Street on March 15, wiping most of the earnings of the previous day. The BSE Sensex has cracked more than 700 points to settle at 55 777 and the Nifty50 fell by more than 200 points to end at 16,663, as low global signals and increasing covidation cases in Europe and China The sale of the pressure was observed through the metal and the computer stocks. Nifty Metal corrected 4%, while this corrected 2.6%. Nifty PSU Bank, a Nifty private bank decreased by 1% each The larger markets have also witnessed the pressure than the Nifty MIDCAP 100 and the small size 100 have shown 0.87% and 1.4% respectively.
Stocks that were in action or the trend the trend include the private sector Bank of Bank, which was the largest winner of the derivatives segment, raising 6.1% to RS 281. The company FMCG Tata Consumer Products was the Fifth largest winner of the future segment and options, climbing 3.6% to RS 749.
The Industrial Gas Company Linde India continued its rise for a third consecutive session, gaining 11.4% to end at 3,256 Rs. The PET films manufacturer Polyplex Corporation has maintained its northern course for the sixth consecutive session , increase of 7.2% to 2,085 rupees. The script rallied 15% over the last six sessions.
Although this countertop has rallied levels of 650 RS to 750 rupees during the last 7 trading sessions, it can take care of its critical resistance points Nevertheless, based on huge volumes of the last trading session, this counter can be expected to go on an escape as long as it suffers above the levels of 723 rupees For the moment, we advise you to buy fresh purchases only on an escape with closure close to 777 rupees or on a dip around 730 levels. The judgment loss suggested for trade is less than 720 RS, while the breaking target can be 847 levels of Rs.
Linde India
The new lifetime, in a turbulent market, may indicate that this counter has decoupled with the larger trends of the market because of its own inherent strength In addition, during the current week, it seems to have recorded a consolidation escape after remaining laterally for a period of 25 weeks.
Polyplex Corporation
As a consolidation area is about 600 rupees, an initial target of 3,545 Rs can be projected. We can stop advising you for business if it firm under 2,940 rupees. This counter appears to be on the point of consolidation savings because it moves in a 2,100 to 1,600 rupees consolidation area for the last 20 weeks. Therefore, within the current week if this counter records a closure of 2,100 levels of RS, it can initially head for 2,570 levels of Rs Given the relatively higher volumes and a decent price appreciation of the last session, there may be a long time in anticipation of an escape but a loss of arrest will remain below 1,950 rupees. Therefore, the dips can be a purchase opportunity.
Bandhan Bank
The price behavior of this counter for the last trading sessions indicates that this script is on a sustainable withdrawal mode. In addition, the last 50 weeks of price behavior indicate that this meter moves in a form of a descending blowing channel Therefore, if it undergoes levels greater than 259 Rs, it can possibly head towards the upper limit of said channel As a result, position traders can buy in this counter with a stop loss of less than 269 rupees and search for a target of 317 rupees
Bears took charge of Dalal Street on March 15, wiping most of the earnings of the previous day. The BSE Sensex has cracked more than 700 points to settle at 55 777 and the Nifty50 fell by more than 200 points to end at 16,663, as low global signals and increasing covidation cases in Europe…