Market Movers: What to Do with HDFC AMC, HCL Tech, and Sterling & Wilson Stocks

The BSE Sensex surged nearly 592 points, and the Nifty reclaimed the 25,000 mark on Monday, driven by strong global market trends. Notable stocks that caught attention include HDFC AMC, HCL Tech, and Sterling & Wilson, with respective gains of 1.7%, 1.2%, and 5% on Tuesday.

Here’s what Viral Chheda, Senior Technical Analyst at SSJ Finance & Securities, advises for these stocks as trading resumes:

HDFC AMC

• Performance: After hitting a low of ₹1,500 in March 2023, HDFC AMC shares surged to an all-time high of ₹4,546, marking a 203% return. Recently, the stock traded between ₹4,100 and ₹4,550.
• Outlook: The stock has broken out of its consolidation phase with strong volume, suggesting potential further gains.
• Recommendation: Investors should buy at the current price and accumulate more at ₹4,300, with a stop-loss at ₹4,050. The target price is between ₹5,200 and ₹5,800 over the next 10-12 months.

HCL Tech

• Performance: HCL Tech has seen steady gains recently, reflecting positive market conditions.
• Outlook: The stock shows a favorable trend, indicating potential for long-term growth.
• Recommendation: Investors should consider buying at current levels and hold for the long term, looking for an upward trend as market conditions improve.

Sterling & Wilson

• Performance: After reaching a high of ₹828 in May 2024, the stock fell to around ₹504, representing a 40% decline from its peak. However, it has shown signs of recovery after finding support at ₹485.
• Outlook: The stock could face resistance at ₹630, and a close above this level may lead to a rise towards ₹800.
• Recommendation: Investors can buy at the current price and add more at ₹530, with a stop-loss set at ₹480. The expected upside is between ₹750 and ₹800 over the next 10-12 months.

In summary, these stocks show promising potential for long-term investors, and the recommendations indicate buying opportunities at various price points.