D-Street: D-Street’s Big Move: What Should Investors Do with ZEE, Lupine, and Cyient?
Stocks in focus included ZEE, which was down 4.15%, Lupin, which was down 2.63%, and Cyient, whose shares were up 10% on Monday.
Avdhut Bagkar, derivatives and technical analyst at StoxBox, recommends how investors should handle these stocks when the market resumes trading today.
ji
The stock of Zee Entertainment Enterprises is forming a “symmetrical triangle” as per the daily chart and a move above 268 could spur price action, showing a steep upside towards the 290 level. The downside is that the stock needs to maintain support at 248 to maintain momentum.
The weekly setup has a “flag pattern” that supports the 100-week moving average (WMA). The 220 mark maintains a positive bias and we can see it accumulating once the important support is broken.
lupine
The stock broke out of its bullish “up channel” and started a new uptrend. The stock is poised to rise in the near term, with support levels formed at 1250 and 1200. Price action suggests a rebound towards the 1500 level. Surprisingly, the stock continues to gain bullish momentum in overbought territory on the Relative Strength Index.
scientist
After trading sideways for a while in the 1800-1600 range, the stock price broke through upward, showing bullish momentum. Stability above the 2000 level has further strengthened, leading to optimistic sentiment. Price action is towards 2350. Support falls to 2100 – 2050.
(Disclaimer: Recommendations, suggestions, views and opinions provided by experts are their own and do not represent the views of The Economic Times.)
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