Big movers on D-Street: What should investors do with ABFRL, Tata Consumer and HUL?

Here's what Viral Chheda, Sr Technical Analyst, SSJ Finance & Securities, recommends should do with these stocks when the market resumes trading today.

ABFRL
After making low around 198 in Mar 2024, price has given a sharp upside move to make the 52 week high of 273. Price has given almost 35% returned from its lower level as buyers were having the upper hand over bears.

As the prices are at one year high we can see some profit booking and can see the price of anywhere between 220-230 odd levels. For long stock looks good and can be bought at every dip.

The Stochastics Oscillator is moving in the overbought zone indicating some correction from current level. Hence one can buy at dips of 230 and more at 210 with stop loss of 195 on weekly closing basis and upside can be seen till 320-370 in the 10-12 months.

Tata Consumer
In the weekly chart we have seen the stock has given a sharp upside move from its lower level of 682 to make an all time high of 1269 odd levels.

From highs price has witnessed some correction as it retraced almost 32% of previous rally to make a low of 1083. In the last 3-5 weeks price has moved in range of 1080-1160 and in the current week with high volume price has breached the consolidation phase and moving above that level indicating further upside from here.

The Stochastics Oscillator is moving in the upward trend along with an increase in volume indicating upside movement with limited downside risk. Hence one can buy at current level and more at dips of 1100 with stop loss of 1050 on weekly closing basis and upside can be seen till 1400-1550 in the 10-12 months.

Hindustan Unilever
After making the high around 2669 in Han 2024, price has witnessed a bear run to make the 52 week low of 2172 odd levels. Lower Top Lower Bottom pattern is formed as sellers were having upper hand over bulls.

From lows, stocks have given some pull back and are closing above 20 DMA of 2250 indicating some upside move from here. Stock can face a minor resistance around 2300, once this level is taken out we can see sharp upside moves and can touch 2450-2550 in no time.

For the long term, stock looks goods and can be bought at every dip. The Stochastics Oscillator is moving in an upward trend along with an increase in volume indicating an upside movement with limited downside move.

Hence one can buy at current level and more at dips of 2200 with SL of 2150 on weekly closing basis and upside can be seen till 2450-2550 in next 6-8 months.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)