Trade Spotlight: What should investors do with Max Healthcare, SAIL & Tata Motors?

Stocks like Max Healthcare rose to its 52-week high, up over 2 percent, SAIL fell by about 6 percent, and Tata Motors was down by over 5.6 percent.

January 19, 2021 / 08:03 AM IST
 
 
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Indian market witnessed profit taking for the second consecutive day in a row on Monday where both Sensex, and Nifty fell more than 1 percent each.

The S&P BSE Sensex fell by about 500 points while the Nifty50 was down more than 150 points to close below 14300 levels on Monday.

Sectorally, the action was seen in Energy, consumer durables while profit-taking was seen in metals, public sector, utilities, and telecom.

Stocks like Max Healthcare rose to its 52-week high, up over 2 percent, SAIL fell by about 6 percent, and Tata Motors was down by over 5.6 percent.

We have collated views of experts on what investors should do when the market resumes trading on January 19:

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Vikas Jain, Senior Research Analyst at Reliance Securities

Max Healthcare: HOLD | Target: Rs 180

The stock is scaling new highs over the past few days and it will continue to outperform. RSI is trading above 60 levels and still does not showing any negative divergence.

Any decline near to its short-term average of Rs 148-150 levels would be a good opportunity to add longs.

SAIL: Book Profits

The stock is one of the best outperformers in the metals space as it doubled over the last quarter. The recent FPO came at a discount which resisted the up move and we expect the stock to witness minor corrective action.

Any breakdown from its short-term averages will confirm the downtrend, and the stock will test Rs 56-58 levels over the next few weeks.

Tata Motors: Book Profits

The stock has witnessed a trend reversal on the daily charts after a sharp up move from Rs 160 to 265 over the past month.

RSI has also reversed from higher levels and we expect the stock to underperform and witness price and time correction. We would recommend booking profit from current levels.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Kshitij Anand is the Editor Markets at Moneycontrol.

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