Stocks that were in focus included names like Bajaj Auto, which rose 0.9%, LTTS, which rose 0.12% and BSE, whose shares fell nearly 5% on Wednesday.
Riyank Arora, technical analyst at Mehta Equities recommends what investors should do with these stocks when the market resumes trading today.
BSE
The stock is trading around 4521 with anchor VWAP at 4300 and strong bullish structure supported by resistance near 4600. With momentum reflected in the RSI (14) near 65, a move towards 4750 and 4900 is likely.
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Technical indicators suggest continued buying interest, positioning the stock for a breakout above resistance levels. Overall, the outlook remains positive as long as 4300 holds support.
Bajaj Auto
Trading at 11,616, Bajaj Auto shows a bullish outlook, supported by immediate levels at 11,380 and resistance near 12,000.
RSI at 48 (14), with an upward trend from lower levels, suggests a possible move towards 11,800 and 12,000. The stock’s technical setup suggests continued momentum with a possible test of resistance levels in the near term. The overall trend remains strong, supported by a firm technical infrastructure.
LTTS
LTTS is facing bearish pressure, trading around 5356, with trendline resistance near 5550 and key support at 5000. The overall structure points to a possible decline towards 5000 and further downside till 4800, as the stock shows signs of weakness.
Bearish trends indicate limited upside potential and technical indicators favor selling in rallies. Caution is advised as the stock approaches key support levels.
(disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. (These do not represent the views of The Economic Times)
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