Indian market closed in the green on August 2 after a muted close seen in the previous trading session. The Nifty50 closed above 15,850 while the S&P BSE Sensex settled with gains of over 300 points but below 53,000.
Sectorally, buying interest was seen in Realty, oil & gas, energy, consumer discretionary, and consumer durables.
Stocks that were in focus include IRCTC which rallied nearly 6 percent and hit a fresh 52-week high. Oberoi Realty, on the other hand, rose more than 10 percent while Prestige Estate ended with gains of over 7 percent. All stocks hit their respective fresh 52-week highs during the session.
Here's what Vikas Jain, Senior Research Analyst, Reliance Securities, recommends investors should do with these stocks when the market resumes trading today:
IRCTC | Hold |Target: Rs 2,700
The stock is a consistent outperformer and scaled an all-time high with sharp volumes on the back of stock split announcement.
It is holding its short-term average and moving higher over the past few weeks and would continue its positive stance.
Any decline near Rs 2,300 levels would be a good opportunity to add the stock for a target of Rs 2,700 levels over the next few months.Oberoi Realty | Hold |Target: Rs 830
The stock is holding its short and medium-term averages and witnessed a strong up move on the back of positive news flow for the sector.
The Relative Strength Index or RSI has also given an upward breakout from its average line and we expect the stock to outperform from current levels. The current up move can lead the stock higher near Rs 830 levels.
Prestige Estate | Hold |Target: Rs 400
The stock remained sideways for a quarter and has witnessed a breakout over the past few weeks outperforming the broader markets.
Despite a sharp-up move in price, it can move further higher as it has garnered higher delivery volumes.
The RSI is trending below the higher band of 70 levels so risk-reward remains in favour of bullsDisclaimer: 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.