Big movers on D-Street: What should investors do with HUL, SBI Life and TVS Motor?

ETMarkets.comLast Updated: Oct 24, 2024, 07:32:00 AM IST

Synopsis

Benchmark Sensex declined 138 points as investors booked profits amid ongoing FPI outflows, marking its third day of losses. HUL formed a bullish pattern at lower levels, SBI Life showed reversal signs, while TVS Motor indicated further downside.

Extending its losing streak to the third day, benchmark Sensex declined by 138 points on Wednesday in a choppy trade as investors booked profits amid continued FPI outflows.

Stocks that were in focus include names like HUL, which fell 0.8%, SBI Life, which rose 0.8%, and TVS Motor, whose shares declined nearly 3% on Wednesday.

Here's what Riyank Arora, Technical Analyst at Mehta Equities, recommends investors should do with these stocks when the market resumes trading today.

HUL

HUL has touched a key swing low support at 2640, forming a bullish candlestick pattern at lower levels, which suggests a possible upward movement. With momentum building, the stock may target 2800 and 2900. A strict stop loss at 2600 is advised to limit downside exposure.

SBI Life

SBI Life is trading comfortably above its support at 1650, showing clear signs of reversal. The stock is well-positioned to advance towards 1800 and 1825, supported by strong technical indicators. Maintaining a stop loss at 1650 will help protect gains if the reversal falters.

TVS Motor

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

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