ril share price: Big Movers on D-St: What should investors do with RIL, MRPL and ONGC?
Sectorally, buying was seen in FMCG, Realty, finance, consumer discretionary, and IT stocks while selling was visible in Energy, Oil & Gas, and public sector companies.
Stocks that were in focus included
which fell more than 7 per cent, which was down nearly 10 per cent, and which saw a dip of over 13 per cent.
Here’s what Pravesh Gour, Sr. Technical Analyst, recommends investors should do with these stocks when the market resumes trading today:
Industries: Slips below 200-DMA
The counter has slipped below its 200-DMA which is not an encouraging sign. However, Rs 2375-2300 is a strong demand zone.
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If Reliance manages to hold this zone, then we can expect a bounceback otherwise there will be a risk of a move towards the Rs 2,180 level.
On the upside, Rs 2,500-2,600 has become a key supply area where it needs to take out the Rs 2,600 level for fresh bullish momentum.
MRPL: 20-DMA of 95 is a key hurdle
The counter is topping out with head and shoulder formation after a strong run-up where Rs 75 is neckline support. Below this, we can expect a vertical fall towards Rs 65/60 levels.
On the upside, 20-DMA of 95 has become a key hurdle. Momentum indicators are also witnessing negative crossover followed by negative divergence.
ONGC: Expect a move towards Rs 107 level
The counter is heading for a short-term bearish trend as it is trading below its all-important moving averages, however, Rs 130-125 is an immediate and strong demand zone where bulls will try to fight.
Below Rs 125, we can expect a move towards the Rs 107 level. On the upside, Rs 150 level will act as a key resistance.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)