More

    Big movers on D-Street: What should investors do with Raymond, JK Paper and MapmyIndia?


    Equity benchmarks closed higher on Monday recovering from early lows even amid a bearish trend in global equity markets. The 30-share Sensex ended 131 points higher at 77,341 and the Nifty rose 36 points to settle at 23,537.

    Stocks that were in focus include names like Raymond, which rose 3.6%, JK Paper, which gained 4.3%, and MapmyIndia, whose shares declined 4.84% on Monday.

    Here’s what Avdhut Bagkar, Derivatives and Technical Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today.

    Raymond
    Shares of Raymond need a strong closing above 2700 to enter the next leg of upside. Until then, the support of 2400 should be kept on a closing basis. While the trend remains positive, only a resilient close over the hurdle may prompt next move

    JK Paper
    The stock has risen over 60 percent so far this year and continues to attract bulls. The “Golden Cross” has triggered fresh moves that may see 600 and 650 in the medium-term. The immediate support exists at 500.MapmyIndia
    The stock must close over 2600 level to embark on the next up move. When that happens, a move towards 3000 can not be neglected. On the downside 2200 remains a key support. The recent sharp surge envisions short-term bullishness in the stock.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

    https://img.etimg.com/thumb/msid-111244941,width-1200,height-630,imgsize-665726,overlay-etmarkets/photo.jpg



    Source link

    Latest articles

    spot_imgspot_img

    Related articles

    spot_imgspot_img