Stocks that were in focus included names like Trident, which rose 19%, Titan, which fell 0.04%, and Tata Steel, whose shares declined 3.68% on Monday.
Here’s what Avdhut Bagkar, Derivatives & Technical Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today.
Trident – Bullish
Shares of Titan have broken out surpassing a major hurdle of 44 level, sparking a bullish rally for the upcoming sessions. The stock is headed towards 52 and 55 levels.
The medium-term outlook has turned optimistic, with price action observing rise in volumes. A closing basis support at 40 mark should respect the positive sentiment.
Titan Company – Bullish
The “Higher High, Higher Low” formation continues to observe upward sentiment, as per the daily setup. The broader trend remains upward, with price indicating a move towards the 4000 level.
The support for the chart pattern exists at 3600 and 3500 level. A breakout over 4000 could propel this stock heading towards 4500.
Godrej Consumer Products – Bullish
Following eight consecutive strong gains, the price action has witnessed profit booking. The underlying momentum remains bullish over the support of 1140, which needs to be protected on the closing basis.
A sustained close above 1200 shall recuperate the losing strength, and the price action may rally upward towards 1300 level.
(You can now subscribe to our ETMarkets WhatsApp channel)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
