Big movers on D-Street: What should investors do with SBI, REC and Doms Industries?

Here's what Kushal Gandhi, , , recommends should do with these stocks when the resumes today.

SBI
The heavy-weight PSU Banking stock displays true market leader characteristics whilst trading at life-high levels. The has been trending strongly since the breakout from a cup and handle pattern observed in February 2024 on the weekly outlook.

The price action emerged strongly today from a tight consolidation and volatility compression phase, with a breakaway gap further validating the move.

The move came on the highest volume recorded in the quarter and a momentum surge. We recommend buying SBIN for the target of 991 with a protective stop at 853.

REC
Following a bullish breakout from a rounding bottom on the weekly outlook observed in April 2024, the stock saw a parabolic rise of 329%. The price action underwent a breather to potentially garner bullish strength for further trend continuation.

The stock displays low volatility and high relative strength compared to the 50 index, diminishing the chances of an unruly move. We recommend buying RECL for the target of 698 with a stop loss at 555.

Doms Industries
The young gen stock has surged 53.5% since its listing the day. The price action now trades laterally after facing rejection from the highs of 2035.

This marks the level of crucial, pivotal resistance, and the price action is anticipated to attract further bullish strength if the hurdle is successfully overcome on a closing basis. We thus recommend avoiding the stock at the current market price.