On Tuesday, for the third consecutive day, the Indian market closed in the red mark and the important indexes slipped below their important support level. In Tuesday’s trade, the Sensex fell 354 points to end at 52,198. On the other hand, Nifty closed at 15,632 level. The market was closed on Wednesday on account of Bakrid holiday.
The weakness in the broader market also continued during the entire trading day on Tuesday. The BSE Midcap Midcap index was down 1.2 per cent and the Small-cap index index was down 1.4 per cent. Selling was seen in realty, metals, power, telecom, utilities and banks.
Shares of ACC, Birla Corp and Ambuja Cement were in focus on the previous trading day. All three stocks touched new 52-week highs. On Tuesday, ACC had gained more than 7 per cent, Birla Corp by more than 6 per cent and Ambuja Cement Cement grew by about 5 per cent.
What to do in these stocks now
ACCBullish trend continues in this stock. Those who have this share should remain in control with a stop loss of Rs 2170 for a target of Rs 2690. On the other hand, if it is found in any correction around 2192 – 2168, then buy a new one.
Birla CorpThere are signs of bullishness in this stock as well. If this stock stays above 1349, then the level of 1490 can be seen in it. Be those who have this show. Make new purchases only after coming in the zone of 1390-70. Make sure to put a stop loss at Rs 1349. A target of Rs 1490 is possible in this stock.
Ambuja CementBull run will be seen in the entire cement segment. Ambuja Cement will also get the benefit of this. On the long term chart, resistance is being seen for this stock at Rs 410 level. If this stock breaks the level of 410 on the upside, then we can see a higher target of Rs 445 in this.
Facebook us for social media updates (https://www.facebook.com/moneycontrolhindi/) and Twitter (.) to follow.