2 days Ago
Benchmark Sensex rose by nearly 91 points to close at a fresh lifetime high while Nifty settled above the 25,400 level for the first time in a range-bound trade on Tuesday. Stocks that were in focus include names like Mazagon Dock , which fell 1.45%, Adani Green , which gained 0.
74%, and Tata Motors , whose shares fell 1.3% on Tuesday. Here's what Riyank Arora, Technical Analyst at Mehta Equities, recommends investors should do with these stocks when the market resumes trading today.
Mazagon Dock Mazagon Dock is trading near a key support level of ₹4100, with the next significant support at Rs 4000. The stock’s immediate resistance is seen at ₹4410, and if it breaks above this level, the next upside target is Rs 4800. Stock Trading Market 101: An Insight into Trendlines and Momentum By - Rohit Srivastava, Founder View Program Stock Trading Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading By - Rohit Srivastava, Founder View Program Stock Trading Market 103: Mastering Trends with RMI and Techno-Funda Insights By - Rohit Srivastava, Founder View Program Stock Trading Market 104: Options Trading: Kickstart Your F&O Adventure By - Saketh R, Founder- QuickAlpha, Full Time Options Trader View Program Stock Trading Introduction to Technical Analysis & Candlestick Theory By - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert View Program Stock Trading Options Scalping Made Easy By - Sivakumar Jayachandran, Ace Scalper View Program Stock Trading Futures Trading Made Easy: Future & Options Trading Course By - Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant View Program Stock Trading Options Trading Made Easy: Options Trading Course By - Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant View Program The current positioning near the support zone presents a strong potential for a pullback, as the stock has shown resilience at these levels.
A recovery from this zone could drive renewed buying interest, making it a favorable entry point for a bounce-back opportunity. Adani Green Adani Green's immediate resistance stands at Rs 2000, with subsequent hurdles at Rs 2150 and Rs 2160. On the downside, the stock has immediate support at ₹1885, and if breached, the next support is at Rs 1780.
The overall trend remains positive, supported by bullish momentum, especially if it clears the Rs 2000 resistance level. With a series of higher lows, the stock could continue its upward trajectory, offering further gains in the medium term if key resistance levels are surpassed. Tata Motors Tata Motors is currently holding support at ₹955, with immediate resistance at Rs 1006.
A breakout above Rs 1006 could propel the stock towards the Rs 1045-1050 range, indicating further upside potential. The overall trend remains positive, particularly as the stock is trading near a key support zone. The current technical setup suggests a bullish outlook, with potential for an upward rally if it sustains above the crucial resistance levels.
Investors may find buying opportunities at these levels given the strong support foundation. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times ) (You can now subscribe to our ETMarkets WhatsApp channel ).
