HCL Technologies, Dabur India, Eris Lifesciences: How to trade these buzzing stocks
An analyst from Master Capital said that Dabur is trading near a critical support zone around Rs 490-500, a level that has historically acted as a strong base for the stock.
- Jan 14, 2025,
- Updated Jan 14, 2025 7:59 AM IST
Selling at Dalal Street continued in the new week as Indian benchmark indices saw another session of intense selling pressure led by weak global cues. Expectations of fewer rate cuts and a strong US dollar dented the sentiments at Dalal Street. BSE Sensex crashed 1,048.90 points, or 1.36 per cent, to end the session at 76,330.01. NSE's Nifty50 tanked 345.55 points, or 1.47 per cent, to settle at 23,085.95 for the day.
Some buzzing stocks including Eris Lifesciences Ltd, Dabur India Ltd and HCL Technologies Ltd are likely to remain under the spotlight of traders for the session today. Here is what Vishnu Kant Upadhyay, AVP - Research and Advisory at Master Capital Services has to say on these stocks ahead of Tuesday's trading session:
Dabur India is trading near a critical support zone around Rs 490-500, a level that has historically acted as a strong base for the stock. The price action shows signs of recovery, supported by a positive close in recent sessions. The 100-month EMA positioned slightly below the current price strengthens the support area, providing additional confidence for a potential reversal. RSI is gradually inching higher from oversold territory, suggesting improving momentum. The MACD histogram also reflects diminishing bearish pressure, hinting at a possible bullish crossover. If the stock sustains above the Rs 490-480 level, it could initiate an upward move toward Rs 580 in the medium term.
Selling at Dalal Street continued in the new week as Indian benchmark indices saw another session of intense selling pressure led by weak global cues. Expectations of fewer rate cuts and a strong US dollar dented the sentiments at Dalal Street. BSE Sensex crashed 1,048.90 points, or 1.36 per cent, to end the session at 76,330.01. NSE's Nifty50 tanked 345.55 points, or 1.47 per cent, to settle at 23,085.95 for the day.
Some buzzing stocks including Eris Lifesciences Ltd, Dabur India Ltd and HCL Technologies Ltd are likely to remain under the spotlight of traders for the session today. Here is what Vishnu Kant Upadhyay, AVP - Research and Advisory at Master Capital Services has to say on these stocks ahead of Tuesday's trading session:
Dabur India is trading near a critical support zone around Rs 490-500, a level that has historically acted as a strong base for the stock. The price action shows signs of recovery, supported by a positive close in recent sessions. The 100-month EMA positioned slightly below the current price strengthens the support area, providing additional confidence for a potential reversal. RSI is gradually inching higher from oversold territory, suggesting improving momentum. The MACD histogram also reflects diminishing bearish pressure, hinting at a possible bullish crossover. If the stock sustains above the Rs 490-480 level, it could initiate an upward move toward Rs 580 in the medium term.