bharti hexacom shares: Big movers on D-Street: What should investors do with Bharti Hexacom, Jubilant Pharmova and Westlife?

Stocks that were in focus include names like Bharti Hexacom, which rose 5.2%, Jubilant Pharmova, which gained 12%, and Westlife, whose shares jumped 6% on Friday.

Here’s what Pravesh Gour, Senior Technical Analyst at Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today.

Bharti Hexacom

The counter has witnessed a breakout of a symmetrical triangle formation. On a weekly chart, there is a breakout of a long consolidation with strong volume. The breakout level of 1250 has become the near-term base.The overall structure of the stock looks lucrative, as it is trading above its all-important moving averages. MACD (moving average convergence divergence) is supporting the current strength, whereas the momentum indicator RSI (relative strength index) is also positively poised.

On the higher side, Rs 1500 is acting as an important psychological level; above this, we can expect the level of Rs. 1650+ in the near-short term, while on the lower side, it has already given a big move in the last 2 trading days from the lower levels, so the first support will come at around Rs 1300 levels; below this, Rs 1250 will be the next support level during any correction.

Jubilant Pharmova

Breaking through a multi-year resistance, the security closed above Rs. 1000 levels. On the weekly timeframe, a flag formation breakout accompanied by significant volume has been observed. The stock has consistently found support at the 9 and 20-DMA levels and established a pattern of higher highs and higher lows.

On the positive side, Rs 1300 represents a crucial psychological level. A breach of this level could propel the stock to Rs. 1450 or higher in the near term. Conversely, on the downside, Rs 1000 is recognized as a major support level, expected to provide a robust cushion during any corrective moves.

Momentum indicators reveal positive momentum, with the Relative Strength Index (RSI) signaling strength and the Moving Average Convergence Divergence (MACD) undergoing a bullish centerline crossover.

WestLife

The stock is bottoming out with bullish inverse head and shoulder formation with the surge in volume. Stock is facing resistance at Rs 900 level; above this we are expecting a long run-up towards 1000 levels.

On the downside, Rs 790 is major support at any correction while 750 is the next critical support level. Momentum indicators are positively poised to support the current strength.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)