Big Movers on D-Street: What Should Investors Do with REC, Power Finance Corp, and Motilal Oswal?
On Wednesday, the Sensex scaled a new lifetime closing peak of 77,337, while the Nifty pulled back slightly from its record high. Among the key stocks in focus were REC, Power Finance Corp (PFC), and Motilal Oswal.
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Here's what Riyank Arora, Technical Analyst at Mehta Equities, recommends for these stocks:
REC
- Current Position: The stock is holding up well above its support zone of 490.00 to 500.00.
- Market Movement: REC fell 2.12% on Wednesday.
- Trading Strategy: With an overall positive trend and a resistance near the 540.00 and 560.00 levels, the risk-reward ratio favors taking long positions.
- Stop-Loss: Maintain a strict stop-loss at 490.00.
- Potential Upside: Expect a potential upside of 8-10% from the current levels.
Power Finance Corp (PFC)
- Current Position: PFC is trading above its anchor VWAP support zone of 470.00 to 480.00.
- Market Movement: PFC declined 1.72% on Wednesday.
- Trading Strategy: The risk-reward ratio looks favorable for buying.
- Stop-Loss: Set a strict stop-loss at 470.00 to manage risk effectively.
Motilal Oswal
- Current Position: The stock is in a narrow range consolidation between 640.00 and 722.00.
- Market Movement: Motilal Oswal shares gained 4.05% on Wednesday.
- Trading Strategy: With a positive overall trend, the stock is a good buy on dips.
- Stop-Loss: Set a strict stop-loss at 640.00 for active long positions.
- Potential Upside: The stock has the potential to reach 722.00 and above.
Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times.
By understanding these strategic points and using the recommended stop-loss metrics, investors can make informed decisions on whether to hold or trade these stocks in today's market.
