Big Movers on D-St: What should investors do with Deepak Fertilisers, Asian Granito and Apollo Hospital?

Sectorally, buying was seen in metals, banks, finance, as well as realty stocks while some selling was seen in FMCG counters.

Stocks that remained in focus included names like

which rose 5 per cent, which fell over 4 per cent, and which closed with gains of 4 per cent on Thursday.



Here’s what Amol Athawale, Deputy Vice President – Technical Research, Kotak Securities recommends investors should do with these stocks when the market resumes trading today:

Deepak Fertilizers: Buy
After a short-term price correction, the stock took support near Rs 520 or the 100-Day SMA and reversed sharply. Post the reversal formation, it has maintained a higher bottom series formation and is consistently trading above 100-Day SMA.

In addition, on the weekly charts, it has formed a long bullish candle and after a long time, it succeeded to close above the 20-Day SMA.

For the positional traders, Rs 600 would act as a key support level. If the stock manages to trade above the same, then we could expect a continuation of the uptrend wave up to Rs 650-665.

Asian Granito: Support placed at Rs 48
For the last couple of quarters, the stock is consistently facing resistance at a higher level. It has been consistently forming a lower top series formation.

After a long correction, currently, the stock is trading near the crucial support level. We are of the view that the short texture of the stock is weak but is in an oversold zone.

For traders, now Rs 50 would be the key level to watch out for. There is a strong possibility of a quick pullback rally if the stock succeeds to trade above Rs 50.

Above which, it could move up to Rs 55-58. On the flip side, below Rs 48 fresh rounds of selling are possible. As a result, the chances of hitting Rs 45 would turn bright.

Apollo Hospital: Support placed at Rs 3,500
After a medium-term correction, on Thursday, the stock bounced back sharply and rallied over 4 per cent. However, in this month so far, it has corrected by over 20 per cent.

For the last couple of weeks, the stock is consistently trading below the 20 and 50-Day SMA on the daily charts. The short-term structure is still on the downside and Rs 3,800-3,860 would be the immediate resistance area for

.

On the flip side, Rs 3,500 would be the immediate support level. A fresh round of sell-off is not ruled out if the stock succeeds to close below Rs 3500, below which it could hit the level of Rs 3,400-3,325.

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