Stocks that were in focus include names like Titagarh Wagon, which rose 4.31%, Titan, which gained 2% and Quess Corp, whose shares jumped 4.69% on Wednesday.
Here’s what Riches Vanara, Technical And Derivatives Analyst at stoxbox, recommends investors should do with these stocks when the market resumes trading today:
Titagarh Wagon
The pattern analysis on the daily timeframe shows that the price action has formed a relatively smaller but constructive base.
However, the price momentum remains overheated with RSI diverging negatively to the price, which is trading far away from its mean. We, thus, reckon to avoid chasing the stock at the current market price.
Titan
After breaking out from the inverted head shoulder pattern on the weekly chart, the stock showed positive price action. The momentum indicator MACD is also placed in the bull zone and coincides with the price action.
Derivative data of July series expiry is also positive. We reckon to buy the stock for the targets of 3150 and 3250 with strong support around 2950 and 2875.Quess Corp
The stock has been under selling pressure since Jan-22 and on every pull back it has faced resistance on the 20-week EMA. However this time it has successfully broken out of it with good supportive volume.
The stock also broke above its last 3-week consolidation zone and is trading at week high. This is a positive sign and we reckon to buy for the targets of 465 and 480 with support around 435 and 427.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
