On Thursday, Indian stock market indices ended lower for the second day in a row due to weak global market trends. Among the key stocks that were in the spotlight were GIC Re, Cochin Shipyard, and Vedanta. GIC Re dropped slightly by 0.013%, Cochin Shipyard fell by 0.93%, while Vedanta gained nearly 1.8%.
Here’s what Riyank Arora, Technical Analyst at Mehta Equities, advises investors to do with these stocks as the market opens today:
GIC RE
- GIC RE is moving in a positive trend and has strong support around ₹390. It has been stable near this level, suggesting potential for more gains.
- The stock faces resistance in the ₹425-₹440 range. If it breaks above this level, it could move higher.
- Advice: Consider buying GIC RE on dips for potential growth.
Cochin Shipyard
- Cochin Shipyard has strong support near ₹1,815, making it a good option for investors looking for low-risk entry points.
- Resistance is between ₹2,150 and ₹2,200. If the stock breaks above these levels, it could gain more momentum.
- Advice: The current level is a good entry point as it could continue its upward trend.
Vedanta
- Vedanta has broken out of a consolidation pattern, showing strong upward movement. It has support at ₹445 and resistance between ₹500-₹505.
- The breakout indicates that the stock is set for more gains soon.
- Advice: Vedanta is well-positioned for further upside; it’s a strong buy for those looking to ride the trend.
These expert insights could help investors make informed decisions on these stocks today.
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.
