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On Wednesday, the Sensex fell by 318 points, and the Nifty dropped below 25,000 due to ongoing foreign fund withdrawals and weak global market trends. Key stocks in focus included Bajaj Auto, which rose 0.9%, L&T Tech Services (LTTS), which gained 0.12%, and BSE, whose shares fell nearly 5%.
Here’s what Riyank Arora, Technical Analyst at Mehta Equities, suggests investors should do with these stocks when the market reopens:
BSE BSE is trading near ₹4521, with a bullish outlook. Supported by strong levels around ₹4300, the stock faces resistance near ₹4600. The RSI (Relative Strength Index) is at 65, indicating the potential for further gains towards ₹4750 and ₹4900. As long as the stock stays above ₹4300, the outlook remains positive.
Bajaj Auto Currently trading at ₹11,616, Bajaj Auto shows a bullish trend. It has support at ₹11,380 and resistance at ₹12,000. The RSI is at 48, and the stock is on an upward path, suggesting it may rise towards ₹11,800 and ₹12,000. The technical indicators point to continued momentum.
L&T Tech Services (LTTS) LTTS is under bearish pressure, trading near ₹5356. It faces resistance at ₹5550 and has support around ₹5000. The stock may fall towards ₹5000 and could go further down to ₹4800. The bearish outlook suggests caution, and selling on any price rallies is advised.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
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