Exide Industries, GRSE, Capacite Infra: Trading strategies for these buzzing stocks

Domestic equity markets snapped a two-day losing streak on Tuesday amid firm global cues. The BSE Sensex jumped 275.62 points, or 0.42 per cent, to end at 65,930.77. The NSE Nifty gained 89.40 points, or 0.45 per cent, to end the day at 19,783.40.

A few stocks such as Capacite Infraprojects Ltd, Garden Reach Shipbuilders & Engineers Ltd and Exide Industries Ltd are likely to be in the spotlight today. Here is what a various analysts has to say on these stocks ahead of Wednesday's trading session:

Capacite Infraprojects | Buy | Target Price: Rs 303-315 | Stop Loss: Rs 233
Capacite Infra broke above the 'multiple resistance zone' positioned at Rs 250, signaling the continuation of the uptrend. The stock is holding above key averages of 20-, 50-, 100-, and 200-day simple moving average (SMA), signaling a strong uptrend in the stock. The stock is forming higher top-bottom formations, hinting at a positive momentum. The daily and weekly 'Band Bollinger' buy signals indicate increased momentum. The weekly strength indicator RSI is in a bullish bullish mode and holding above the reference line,  indicating a positive bias. The analysis indicates an upside for the stock towards Rs 296-313 levels.
Recommeded by: Axis Securities
 
Garden Reach Shipbuilders & Engineers | Buy | Target Price: Rs 907 | Stop Loss: Rs 770
GRSE has witnessed a decent consolidation phase near the important 50-EMA level of Rs 765-770. It formed a positive candle , coming out of a rectangular box to improve the bias. One can anticipate further rise on the counter in coming days. The RSI has indicated a trend reversal from the oversold zone and is  currently well-placed, indicating strength. With the chart looking good, one can accumulate the stock for an upside target of Rs 907, keeping the stop loss at Rs 770.
Recommended by: Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher

Exide Industries | Buy | Target Price: Rs 303-315 | Stop Loss: Rs 281
Exide Industries demonstrated a strong breakout from a ‘rounding bottom' formation on the daily chart. It was accompanied by a large bullish candle, indicating a positive bias. Volume activity during the pattern formation period declined but surged at the breakout, reaffirming the positive bias. The stock is holding above key averages of 20-, 50-, 100-, and 200-day simple moving average (SMA), signaling strong uptrend. The weekly strength indicator RSI has given a crossover above its reference line and generated a ‘buy’ signal The analysis indicated an upside for the stock towards of Rs 303-315 levels.

Recommended by: Axis Securities

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

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