Big movers on D-Street: What should investors do with TVS Motor, KPI Green Energy and Oil India?

Big movers on D-Street: What should investors do with TVS Motor, KPI Green Energy and Oil India?

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Equity indices climbed for the fourth straight session on Friday. The 30-share Sensex surged 376 points to close at 72,426 and the broader Nifty also rose 129 points to end at 22,040.

Stocks that were in focus included names like TVS Motor, which rose 2.25%, KPI Green, which jumped 5%, and Oil India, whose shares increased 1.57% 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.

TVS Motor – Buy

The counter has witnessed a breakout of a long consolidation of 2.5 months with strong volume. The overall structure is very bullish as it trades above its all-important moving averages.

The pattern suggests an immediate target of Rs 2300, while it has the potential to move further upside. On the downside, Rs. 2070 will act as an immediate support level.

ADX (average directional index) and MACD (moving average convergence divergence) are supporting the current strength, whereas momentum indicator RSI (relative strength index) is also positively poised.

KPI Green Energy – Avoid

We have seen a vertical move in KPI green energy, and in the last few trading sessions, it has been trading in a 5% circuit. So it is very difficult to advise on taking a position because entry and exit are not possible in such stocks. If anybody has an existing position, they will put a stop loss of Rs. 1200 on the target of Rs. 1700–1800.

Oil India – Buy on Dips

The counter is in a classic uptrend, and stock is traveling at its 52-week high levels. The overall structure looks lucrative as it trades above its 100,200 SMA moving averages and has a demand zone near 440–450. On the upside, 650 is an immediate resistance area; above this, we can expect a run-up towards 700+ levels in the near term. On the downside, if it breaks the 540 level, then 440 is the next critical zone.

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

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