Thursday’s session saw Kotak Mahindra Bank shares ending 11% lower at Rs 1,643 on NSE while Hitachi Energy India shares ended nearly 14% up at Rs 9,342 on BSE.
Here’s what Avdhut Bagkar, Derivatives & Technical Analyst, StoxBox, recommends investors should do with these stocks when the market resumes trading today.
Kotak Mahindra Bank
Shares of Kotak Mahindra Bank have slipped to a new 52-week low, propelling a negative downside in the days ahead. The sentiment has turned sour, and a breach of Rs 1600 could steer downside in the direction of Rs 1400 level. On the upside, the stock faces hurdles at Rs 1725 and Rs 1775, which must be overcome to recoup the bullish trend. Until that happens, the trend will stay sluggish.
Hitachi Energy India
Hitachi Energy India set a new all-time high on Thursday, implying fresh breakout in the price. The stock is moving in the direction of Rs 10,000 level, with immediate support falling at Rs 8700 level. The medium-term accumulation range emerges near Rs 8800 – 8900 levels. The trend is robust in the overbought territory of Relative strength index (RSI), indicating a strong momentum. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)