The Indian market recouped losses to close well in the green on June 21, tracking positive global cues. The S&P BSE Sensex closed above 52,000, while the Nifty50 managed to reclaim 15,700 levels towards the close of the trade.
Sectorally, buying was seen in power, realty, utilities, public sector, and oil & gas stocks, while marginal selling pressure was visible in auto and IT space.
Stocks that were in focus include GMR Infrastructure, which rallied over 9 percent to hit a fresh 52-week high, NTPC gained nearly 4 percent and Adani Ports ended rose more than 5 percent.
Here's what Vikas Jain, Senior Research Analyst, Reliance Securities, recommends investors should do with these stocks when the market resumes trading today:
GMR Infrastructure: HOLD |Target: 37
The stock closed at an eight-year high with strong volumes and the recent news with respect to demerger adds positive momentum to the stock. We expect the stock to test 37 levels over the next few weeks.
Any decline to the lower band of 27-30 levels would be a good opportunity to add longs.
NTPC: BUY |Target: 140
The stock tested its 200-week average at 121 levels and witnessed a minor profit from higher levels.
It has witnessed a bounce from the double-bottom support of 110 levels, which indicates an upward breakout on the higher side. We recommend a strong buy from current levels.
Adani Ports: HOLD |Target: 790
The stock has witnessed sharp volatility over the past week, swinging from a high of 901 to 638.
It has tested its eight-month average near 640 and witnessed a sharp bounce.
One should keep a trailing stop of 680 from current levels and exit on a bounce near 790.Disclaimer
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