Adani Ports Partnership: Big Movers in D-St: What should investors do with Adani Ports, Lemon Tree and Aegis Logistics? | Whuff News


Indian markets closed in the green for the second day in a row on Monday. S&P BSE Sensex rose more than 400 points while Nifty50 closed above 17500 level.

Sector-wise, buying was seen in capital goods, power, metals, utilities and auto stocks while some selling was seen in oil & gas stocks.

Stocks in focus include

which fell more than one percent after June quarter results, Lemon Tree rose more than 5 percent, and closed with gains of nearly 9 percent on Monday.

Indian markets remained closed on Tuesday due to public holidays.

Here’s what Jatin Gohil, Technical Research and Derivatives Analyst at Securities recommends investors do with these stocks when the market resumes trading today:

Adani Port: Book Profits

After a sharp recovery from the June’22 lows (which is 26 percent from Rs 653), the stock is oscillating around its pivot point, which is placed around Rs 820.

Above average volume, rising future open interest and bearish crosses on short-term chart signals, the stock may see profit booking before it resumes its upward movement.

In case of profit booking, the stock may find support around the Rs 745-740 zone, where the 50-day EMA and 200-day SMA are placed.

However, a steady move above the polarity point will negate any possible downside in the stock and could take it towards Rs 885-901-925.

: Buy

On 5 Aug’22, the stock crossed its short-term supply zone (placed at around Rs 71) convincingly, and then extending its gains, it rose to a 3-year high. Its trading volume has remained above average for the past few days, which indicates that major market participants are in favor of price increases.

The upward sloping moving averages and positively poised technical indicators prove that the positive momentum will continue, which could take the stock towards Rs 90 initially and Rs 100 later.

A new long position can be initiated at the current intersection and decline towards Rs 71 for the desired action. On the downside, the stock will find support around its long-term moving average (100-day SMA), which is placed at Rs 64.

Aegis Logistics: Buy

At the end of Jul’22, the stock crossed its medium-term supply zone (placed at around Rs 250) convincingly and after an upward swing, it rose to a 52-week high of Rs 290.

Key technical indicators are in favor of price increases on long-term and medium-term time charts.

The stock has the potential to move towards its pivot point initially (placed at around Rs 340) and lifetime high of Rs 388, later.

A new long position can be initiated at the current junction and on a dip towards Rs 275 for possible upside movement.

In case of any downside, the stock will find support around its breakout point, which is placed at around Rs 250.

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



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