Big movers on D-Street: What should investors do with Tata Motors, Adani Wilmar and PC Jewellers?

Sensex and Nifty ended flat. Tata Motors rose 0.93%, gaining 182%, supported by averages and EPS, and in accumulation phase. Avoid Adani Wilmar despite its 1.92% rise. PC Jewellers jumped 10%, rebounding off the 50-day average and hitting strong RSI levels. Target for Tata Motors is 1170. Recommendations for these stocks vary.

Benchmark indices Sensex and Nifty ended almost flat on Monday amid a lacklustre trade as investors preferred to stay on the sidelines in the absence of any fresh triggers.

Stocks that were in focus include names like , which rose 0.93%, , which gained 1.92%, and , whose shares jumped 10% on Monday.

Here's what Kushal Gandhi, Technical Analyst at , recommends investors should do with these stocks when the resumes trading today.

Tata Motors
Tata Motors' has increased by 182% over the past year and has entered a consolidation phase, demonstrating resilience to less than 20% drawdowns. This suggests that experienced investors are maintaining their positions, and the current accumulation phase indicates the addition of buyers, strengthening the primary trend.

These are positive indicators. The stock's EPS strength is improving, and there is increasing demand from buyers.

Additionally, with the price action trading near the support of shorter-term daily and weekly moving averages, there are opportunities for low-risk, high-reward investments. We recommend buying Tata Motors with a target price of 1170 and a protective stop at 964.

Adani Wilmar
Adani Wilmar's price action has been showing a multi-year negative trend. It has not consistently exceeded its crucial resistance level during the downtrend, indicating a 67% corrective rally.

With the 50-week moving average serving as overhead solid resistance and weak earnings per share and price strength, we recommend avoiding buying this stock.

PC Jewellers
The price action of PC Jewellers has experienced a significant rebound from its 50-day moving average, pushing its support level higher to 54.70.

The stock has also been trading within a broad range of 34%. On the upside, the 57 level is a strong resistance and a decisive breakthrough of this level on a closing basis will enable the price action to maintain its current momentum.

The RSI levels across daily and higher time frames are significantly above their median, indicating the potential for a strong upward movement in the price. Based on this analysis, we recommend buying PC Jewellers with a target price of 64.50 and a stop loss of 54.65.

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

Source: Stocks-Markets-Economic Times