Big movers on D-Street: What should investors do with EIH, Gensol Engineering and Trent?

Benchmark indices closed flat in a volatile trade on Wednesday as investors stayed on the sidelines ahead of RBI’s interest rate decision on Thursday. The 30-share Sensex declined 34 points to settle at 72,152 and Nifty ended marginally up to 21,930.

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)

(You can now subscribe to our ETMarkets WhatsApp channel)

(What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

FOLLOW US ON GOOGLE NEWS

Read original article here

Denial of responsibility! Secular Times is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – seculartimes.com. The content will be deleted within 24 hours.

Leave a Comment