Should You Buy Voltas, RVNL, and MapMyIndia After Their Big Gains? Here’s What Experts Say

The stock market closed slightly lower on Monday in a volatile session, with focus on three big movers: Voltas, RVNL, and MapMyIndia. Here’s what investors should consider doing with these stocks according to Kushal Gandhi, a Technical Analyst at StoxBox.

Voltas:

• Strong Growth: Voltas has seen its price surge over 110% since July 2023, showing a strong upward trend.
• Support Zone: The recent breakout from a consolidation phase indicates the formation of a support zone, suggesting further growth potential.
• Recommendation: Buy Voltas with a target price of ₹1,785 and set a stop loss at ₹1,493.

RVNL:

• Resilient Stock: After a 20% correction from its all-time high, RVNL remains strong, with long-term investors holding their positions.
• Buyer Strength: There’s a growing strength among buyers, indicating a positive outlook.
• Recommendation: Buy RVNL with a target price of ₹650 and set a stop loss at ₹546.

MapMyIndia:

• Resistance Issues: The stock is facing strong resistance around the ₹2,550 level, with signs of weakening momentum.
• Caution Advised: The Relative Strength Index (RSI) shows a decline, suggesting the stock might be losing momentum.
• Recommendation: Consider buying MapMyIndia only if additional bullish signals appear.