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asian paints share price: Big Movers on D-St: What should investors do with HUL, Asian Paints and IndusInd Bank?

Indian market closed higher on Wednesday tracking positive global cues. The S&P BSE Sensex rose nearly 400 points while the Nifty50 reclaimed 18100 levels.

Sectorally, buying was seen in metals, capital goods, telecom, and consumer durables while selling was seen in utilities, auto and power stocks.

Stocks that were in focus include names like

which rose nearly 1% and which closed flat with a positive bias on Wednesday ahead of results on Thursday. reported a nearly 69% year-on-year (YoY) rise in net profit for the December quarter at Rs 1,959 crore, which was slightly higher than ET Now poll estimate of Rs 1,950 crore. The stock closed lower ahead of the results. Also Read

Here’s what Rameshver Dongre, Research Analyst – Equity Research at CapitalVia Global Research Ltd recommends investors should do with these stocks when the market resumes trading today:

HUL: Buy
Prior to the results, the stock is trending upwards and is trading above the 200 and 50-Day EMAs on the charts. In addition, the MACD Histogram is above the zero line, and the positive crossover suggests an uptrend on the way.

On the higher side, the 2705 level may be the nearest obstacle, and once it crosses the same, the next level to watch out for will be the 2740 and 2820 levels. One should maintain a bullish view of it as long as it maintains above 2600.

Asian Paints: Hold/Avoid
Asian Paints stock is underperforming on the daily chart time frame in the last year. The stock is trading below the 30 and 50-Day EMA.

On the higher side, the 3000 level is crucial. If the stock manages to close above Rs 3000 then fresh buying volume can be seen. Until that point, it is in the negative region and may go even lower, down to the 2850 level.

IndusInd Bank: Buy
IndusInd Bank is trading close to its 52-week high. The bank will release its December quarter earnings report on Wednesday. It is anticipated to report strong growth in income amid a steady rise in loan booking.

On the chart, we can see that it has been consolidating since September. On the upside, 1280 is a strong resistance level, and if it is broken, a move to 1420 is possible. If this happens, the stop loss level should remain at 1188.

(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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