hudco share price: Big Movers on D-St: What should investors do with HUDCO, Rashtriya Chemicals and PNB? | Popgen Tech

The Indian market closed in the green on Wednesday for the second consecutive day. LS&P BSE Sensex rose almost 100 points while Nifty50 closed above 18200 levels.

Sectorally, buying was seen in public sector, oil and gas, banking, metals, and energy stocks while some selling was seen in capital goods, consumer durables, and IT stocks.

Stocks that have been in focus include names like

which ]increased above 5%, which ]increased more than 11%, and which went up more than 4% on Wednesday[a.

Here’s what Akhilesh Jat, Category Manager – Equity Research, CapitalVia Global Research recommends investors should do with these stocks when the market resumes trading today:

HUDCO: Buy Rs 51.20| Stop Loss Rs 48| Target Rs 55 and 58

HUDCO share prices rose over 5% to hit a new 52-week high of Rs 51.20 on Wednesday. After the two consecutive losing streaks, stock prices have completed a corrective pattern and have now resumed the upward trend.

The long-term trend of the stock is bullish as it is trading above its 200-DEMA and the upside move in the last few sessions from its support with marginally higher volume suggests strength in its primary trend.

We recommend starting a new long position for the potential targets of Rs. 58.

Rashtriya Kimika: Buy Rs 120| Stop Loss Rs 112| Target Rs 130 & 142

Rashtriya Chemicals share price rose as much as 14.28% on the day on Wednesday to trade above its multi-year high. The stock has gained almost 52% of its market value on NSE in calendar year 2022, so far.

The stock’s primary trend is bullish, and it has given the pennant breakout of a bullish continuation pattern on the weekly chart with higher volume suggesting more upside in the near term.

: Buy: Rs 51| Stop Loss Rs 48| Target Rs 56

PNB’s share price closed positive for the sixth consecutive session. The stock has given the breakout of its important resistance level and continuously sustained above the same.

The stock is up more than 11% so far in the week and traded at its highest point since February 20, 2020.

At the current stage, the stock is trading in Higher-High & Higher-Low formations and a breakout of an important resistance zone with volume-based sustainability may favor the bull run in the near term.

(Disclaimer: Recommendations, suggestions, views and opinions given by experts are theirs. These do not represent the views of Economic Times)