On Tuesday, the Sensex, a major stock index in India, bounced back a little after a rough day in the markets. Even though there was a lot of trading ups and downs, IndusInd Bank saw a huge drop of 27%. This came as global markets fell, mainly due to worries about a possible recession in the US.
A few stocks caught the spotlight:
– IndusInd Bank dropped 27%.
– PC Jewellers rose by 0.8%.
– Mold-Tek saw a small increase of 0.2%.
Here’s what Viral Chheda, a Senior Analyst at SSJ Finance and Securities, thinks investors should do with these stocks when trading resumes today:
– IndusInd Bank: After trading between 926 and 1100 for four months, the price has fallen sharply to around 667. This week alone, it’s down about 30%. The stock looks weak and could drop further, possibly reaching 600 to 550. If you own this stock, it’s best to sell if the price goes up a little. The indicators show it might go down more, so stay away from buying it.
– PC Jewellers: After reaching a 52-week high of 19.30 in December 2024, the stock fell to a low of about 10.30. That’s roughly a 47% drop. Currently, the stock is showing some signs of recovery, moving above its important averages, which is promising. It could face resistance at 15, but if it breaks past that, it might climb to 18-20. Buying at the current price or on dips (around 11.50) with a stop loss at 10 is a good strategy, as it could rise to 16-19 in 10-12 months.
– Mold-Tek Packaging: After hitting a high of 1100 in July 2023, the price sharply fell to about 422, marking a 62% drop. It has reached a three-year low and is forming a pattern that could indicate further declines unless it stays above 430. If it drops below that, it could slide to 400-370. However, if it climbs past the 520-550 range, it could go up to 650-750. This stock looks good for the long term and can be bought at lower prices. Buying now or at around 435 with a stop loss of 425 could lead to gains of 550-650 in 6-8 months.
(Disclaimer: The opinions given by the experts are their own and do not reflect those of Thellv.news)
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