May 24, 2024

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Raymond share price: Big Movers on D-St: What should investors do with Raymond, MTAR Technologies & Tejas Networks?

2 min read

Domestic marketplaces snapped an 8-working day profitable streak to shut in the purple on Friday. The S&P BSE Sensex fell extra than 400 factors when the Nifty50 shut below 18,700 levels.

Sectorally, acquiring was found in realty, telecom, and metallic shares when offering was recorded in ability, auto, utilities and FMCG stocks.

Shares that were being in target include names like

which was up almost 18%, which obtained in excess of 8%, and fell a little over 3% on Friday.

This is what Pravesh Gour, Senior Technological Analyst,

at recommends investors really should do with these stocks when the marketplace resumes trading nowadays:

Raymond: Acquire

The counter is in a classical uptrend, as it has broken a prolonged consolidation with significant quantity. The general construction of the stock appears to be beneficial as it is investing above its all-crucial moving averages.

On the shorter time body, there is a multi-month breakout, which implies a great deal additional upside probable in this counter.

The momentum indicator, RSI, is trading earlier mentioned the 60-mark with a favourable bias, whilst MACD has already witnessed a centerline crossover.

On the upside, Rs 1800 will be an speedy hurdle, but 2000 appears to be like like an imminent concentrate on in the in the vicinity of-to-shorter expression. On the draw back, the Rs 1400 amount is a powerful support degree in any correction.

MTAR Systems: Invest in

The counter has appear out of long-vary consolidation because Aug-22 with enormous quantity. It is all set to begin a new leg of the rally in the around phrase.

After declining to phase 4 and setting up a prolonged foundation development of phase 1, which is the phase wherever the foundation forms after a drop in the stock value.

The more time the horizontal foundation, the improved. A extended foundation will establish a a lot more significant guidance amount, and the ownership of the inventory will transfer from weak palms to sturdy hands.

On the upside, Rs 2000 is the rapid psychological resistance at any upward transfer, but if it can keep the Rs 2000 level, we could see Rs 2400 amounts in the close to to shorter time period.

On the draw back, a cluster of relocating averages all-around Rs 1550 will act as solid assist.

Tajas Networks: Purchase

On the each day timeframe, the counter is forming an inverse head and shoulder pattern. The total construction is remunerative as it trades previously mentioned its all-important going averages.

The sample suggests an speedy focus on of Rs 700, even though it has the opportunity to transfer even further upside to Rs 764 concentrations. On the downside, Rs. 590 will act as an instant assistance level.

MACD (relocating ordinary convergence and divergence) are supporting the recent toughness.

(Disclaimer: Recommendations, tips, views and viewpoints supplied by the authorities are their individual. These do not symbolize the views of Economic Situations)

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