Stocks that were in focus include names like GIC Re, which fell 0.013%, Cochin Shipyard, which declined 0.93%, and Vedanta, whose shares gained nearly 1.8% on Thursday.
Here’s what Riyank Arora, Technical Analyst at Mehta Equities, recommends investors should do with these stocks when the market resumes trading today.
GIC RE
GIC RE is trading within a positive uptrend, with major support around ₹390. The stock has shown resilience near this level, and the trendline suggests further upside potential.
Resistance is currently positioned in the Rs 425-440 range, and a successful breakout above this could lead to higher levels. The stock’s upward momentum aligns well with its long-term growth prospects, making it an attractive buy on dips.
Cochin Shipyard
Cochin Shipyard is finding solid base support near Rs 1,815, offering a strong risk-reward profile for longs. Resistance is set between Rs 2,150-2,200, and a move above these levels could trigger further bullish momentum.
The stock’s current positioning provides a favorable entry point, with its technical structure supporting a continuation of the positive trend.
Vedanta
Vedanta has recently broken out from a triangular consolidation pattern, indicating strong bullish momentum. With support at ₹445 and resistance at Rs 500-505, the stock is well-positioned for further gains.
The breakout suggests that higher levels are likely to be achieved soon, making it a strong candidate for continued upside, with targets coming in as the trend unfolds.
(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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