Big Movers on D-St: What should investors do with Tata Steel, Tata Communications, and Affle India?

Sectorally, buying was seen in autos, capital goods, consumer discretionary, and healthcare while selling pressure was seen in power, energy, oil & gas, and utilities.

Stocks which were in focus included names like

which was up over 1 per cent, which fell 5 per cent, and which rose over 5 per cent.



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:


Tata Steel: Sell below Rs 950| Stop Loss: Rs 970| Target: Rs 922
As on 15th June 2022, the share price of Tata Steel tumbled over 3 per cent to trade below its 52-week low.

The stock price is sustaining below its key support level and all of its important moving averages.
Momentum oscillator relative strength index (RSI) is headed downwards, suggesting further bearish momentum in prices. A breakdown from the immediate support level of Rs 950 may lead to a downward movement.

Tata Communications: Sell: Rs 890| Stop Loss: Rs 915| Target: Rs 840
Shares of Tata Communication continued their losing streak for the fourth consecutive session to trade at the lowest level since 19th October 2020.

The stock is trading in a lower-high & lower-low formation and has declined over 40 per cent so far in the calendar year 2022.

The current price action suggests its bearish trend is likely to continue in the upcoming sessions as well.

Affle India: Buy above Rs 1,030| Stop Loss: Rs 1,005| Target: Rs 1,067
After three days of losing streak, the share price of Affle India surged over 6 per cent (intraday) on 15th June 2022. The stock is coming out of its seven-day consolidation.

Momentum oscillator RSI is headed upwards and read above its past nine days. The MACD indicator is sustaining above zero levels with positive crossover suggesting more upside movement in the counter.

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