Buy, Sell or Hold: What should investors do with Tata Elxsi, Bharat Dynamics & Syngene International?

Indian market closed lower on Thursday for the third consecutive day in a row.

The S&P BSE Sensex fell more than 600 points while the Nifty50 closed below 17800 levels. Pic: Reuters

Indian market closed lower on Thursday for the third consecutive day in a row. The S&P BSE Sensex fell more than 600 points while the Nifty50 closed below 17800 levels.

Sectoral selling pressure was visible in IT, energy, healthcare, and FMCG stocks while some buying was seen in power, utilities, and metal stocks.

Stocks that were in focus include Tata Elxsi which closed with gains of over 6 per cent, while Bharat Dynamics rose nearly 6 per cent. Syngene International closed with gains of over 2 per cent on Thursday.

Here's what Chandan Taparia, Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, recommends investors should do with these stocks when the market resumes trading today:

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Tata Elxsi: Buy

The stock is in overall uptrend and recorded a consolidation breakout on the weekly scale which is a positive sign.

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It formed a strong bullish candle on the daily scale and the momentum is likely to continue. Support for the stock is seen at 7200 then 7000 while on the upside 7750, and then 8000 levels are possible.

Bharat Dynamics: Buy

The stock is in an overall uptrend and is forming higher highs - higher lows on weekly scale from the last 3 weeks.

The immediate support for the stock is seen at 435 while on the upside hurdle seen at 480 then 500 zones.

Syngene International: Hold

The stock is stuck in a range while taking support at 200-Days EMA. The stock needs to hold above 625 zones for an up move towards 650 and then towards 675 while on the downside support seen at 570 levels

(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)

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