On Wednesday, stock markets experienced a recovery, with the benchmark Sensex closing nearly 593 points higher. This improvement was attributed to robust macroeconomic data and value buying by investors following the recent declines preceding U.S. tariff announcements.
Among the stocks that drew attention, Shriram Finance saw an increase of 0.44%, while BEL experienced a decline of 3.2%, and RITES’ shares rose by 0.6%.
Viral Chheda, a Senior Analyst at SSJ Finance & Securities, provided guidance for investors regarding these stocks as the market is set to resume trading.
Tata Motors:
This stock is currently trading around Rs 613, which is near a significant support zone. It has demonstrated strong price movement in recent months, with this level historically serving as a demand zone and providing a solid foundation for potential rebounds. Should the broader market sentiment remain stable, a bounce from this support level could propel the stock towards its recent highs. This presents a favorable accumulation opportunity for investors, with a tight stop loss below the support zone.
Reliance Industries (RIL):
RIL is trading near Rs 1204, a key support area both technically and psychologically. Despite recent pressure on the stock, it has consistently maintained levels above this point. If RIL sustains above Rs 1200, it presents potential for short-term recovery. Positive price action or a reversal candle near this zone could stimulate fresh buying interest.
Zomato:
Zomato is currently trading at approximately Rs 210, close to a strong support level. Following a sharp rally, the stock has experienced a healthy correction, with Rs 208–210 serving as a support area during previous pullbacks. Given the overall stability in the new-age tech sector, Zomato could attract buyers at these levels. A rebound from this point might push the stock back towards its recent swing highs, making it an attractive option for short-term traders with a defined stop loss.
(Disclaimer: The recommendations, suggestions, views, and opinions presented by these experts are strictly their own and do not represent the views of Economic Times.)