What to Do with Kotak Bank, Solar Industries, and Max Health Stocks

The Sensex and Nifty reached new highs but closed flat due to profit-taking in banking and telecom stocks amidst mixed global cues on Tuesday.

Key stocks in focus:

Solar Industries: Up 8.23%

Kotak Bank: Down 2.49%

Max Health: Down 4.46%

Here’s what Viral Chheda, Senior Technical Analyst at SSJ Finance and Securities, suggests for these stocks:

Solar Industries

• Recent Performance: Broke out of the Rs 6,000-7,400 range, hitting an all-time high of Rs 11,190.
• Recommendation: Avoid buying at current levels. Consider buying on dips around Rs 10,400-10,000.
• Strategy: Buy at Rs 10,000 with a stop-loss at Rs 9,500. Target Rs 12,000-13,000 in 10-12 months.

Kotak Bank

• Recent Performance: Rose from Rs 1,543 in May 2024 to a high of Rs 1,848.
• Recommendation: Buy around Rs 1,720 and on further dips to Rs 1,690.
• Strategy: Stop-loss at Rs 1,640. Target Rs 1,900-2,050 in 8-10 months.

Max Health

• Recent Performance: Rose from Rs 511 in August 2023 to an all-time high of Rs 910.
• Recommendation: Buy around Rs 875 and on dips to Rs 825.
• Strategy: Stop-loss at Rs 800. Target Rs 1,000-1,100 in 10-12 months.

These insights help investors make informed decisions about buying or holding these stocks, considering recent performance and future potential.