Big Moves on Dalal Street: What Should Investors Do with Welspun Corp, Vipul Organics, and HDFC Bank?

On Tuesday, Sensex and Nifty continued to slide for the third straight day due to profit-taking in select large stocks. Some stocks in focus were Welspun Corp, which rose by 2.81%, Vipul Organics, which surged 19.56%, and HDFC Bank, which dipped by 2.8%. Here’s what Riyank Arora, a Technical Analyst at Mehta Equities, suggests investors should do with these stocks:

Welspun Corp

The stock broke past its resistance level of 739.45 and closed above it. It’s now retesting this level, offering a good buying opportunity with a stop loss at 720. The target prices are 825 and 850.

Vipul Organics

Vipul Organics jumped 20%, breaking through its trendline resistance at 295 with high volume. The trend is strong, and the stock is expected to reach 350 and 375, with a stop loss at 280.

HDFC Bank

The stock is under selling pressure as investors are booking profits. The next key support is between 1650 and 1660. More selling may happen as the banking sector sees continued weakness.