Stocks that were in focus included names like EIH, which rose 20%, Gensol Engineering, which increased 10%, and Trent, whose shares jumped 19.48% on Wednesday.
Here’s what Riyank Arora, Technical Analyst at Mehta Equities, recommends investors should do with these stocks when the market resumes trading today.
1) EIH (Bullish)
The stock ended up 20% higher on record Q3 earnings. Technically, an immediate support lies at 400 mark below which the stock would lose momentum and strength. In a spree of momentum rally, we can see the stock heading higher towards 475 and 500.
2) Gensol Engineering (Bullish)
The stock has given a strong breakout above its recent swing highs after the board approved raising Rs 900 crore equity through preferential round. Technically, the stock has its immediate support at the 1000 mark and it seems like the stock should touch 1250 and 1300 levels in the momentum rally.
3) Trent (Bullish)
After a strong record Q3 earnings, shares of Trent surged higher by 20% in Wednesday’s session. Technically, the stock has given a strong breakout above the 3300 mark, and the immediate support now lies near the 3500 mark. Upside can extend towards 3800 and 3850 as the uptrend continues.
(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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