Big movers on D-Street: What should investors do with HDFC AMC, HCL Tech and Sterling & Wilson?

The benchmark BSE Sensex jumped nearly 592 points amid a strong trend in global markets while the Nifty reclaimed the share 25,000 level on Monday.

Stocks that were in focus included names like HDFC AMC, which rose 1.7%, HCL Tech, which jumped 1.2% and Sterling & Wilson, whose shares rose 5% on Tuesday.

SSJ Finance & Securities Senior Technical Analyst Viral Kheda recommends what investors should do with these stocks when the market resumes trading today.

HDFC AMC

After making a double bottom around 1500 in March 2023, the price has given a sharp reversal to make an all-time high of 4546. The price has recovered nearly 203% from its lows as buyers piled on the bears.

In the last 25-30 days the price has moved in the range of 4100-4550 and in the current week high volume price has broken the consolidation phase and above that level we can see further bounce from here. Stock looks good for long term and can be bought on every dip.

The Stochastics Oscillator is moving in an upward trend with an increase in volume indicating further upside with limited downside risk. So can buy at current level with stop loss of 4050 on weekly close and further dips of 4300 and see upside to 5200-5800 in next 10-12 months.

JSW Infra

In the daily chart, after opening around 141 on the listing day in October 2023, the price has witnessed a bull run to make an all-time high of 360. The price has recovered almost 155% from its lows as the bulls had complete control over the price.

After making a high around 360, the price is currently moving in the 300-360 range, making multiple lows around 300 and making a double top around 360 odd levels. A breakout on either side will give a further 30-40% move. The stock looks good for the long term and can be bought at all levels. The price has pulled back a bit in the current week and a move above the 333 odd level will give it an opportunity to break its highs and make new highs.

The Stochastics Oscillator is moving in an upward trend with an increase in volume indicating further upside movement with limited downside risk. So with a stop loss of 290 on weekly closing basis one can buy at current level and further on decline of 308 and see upside to 360-400 in next 10-12 months.

Sterling and Wilson

After making an all-time high around 828 in May 2024, the price has seen a bear run to make a low of the 504 odd level. The price has given a downside move of about 40% from its 828 odd level high. The price has given some pull back after taking support from the previous low of 485 odd level.

On the upside the price may face some resistance around the 630 level, a move and close around that level could lead to a further rally to the 800 odd levels. On the downside the stock has strong support around the 480 odd level. The stock looks good for the long term and can be bought in every dip.

Stochastics Oscillator is moving in an upward trend with increase in volume which indicates further upside with limited downside risk. So one can buy at current level with stop loss of 480 on weekly close and further dips of 530 and see upside to 750-800 in next 10-12 months.

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