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Buy, sell? These stocks fell up to 12% post Q4 results. Check strategy here
Shares of Indus Towers, Godrej Agrovet, Phoenix Mills, Ajanta Pharma and Star Health Insurance were among the biggest losers in trades on Friday, as these stocks reacted to Q4 earnings. Individually - Godrej Agrovet stock tumbled over 12 per cent in intra-day trades. Indus Towers and Phoenix Mills plunged over 7 per cent each; while Ajanta Pharma and Star Health declined up to 6 per cent each. Here's a technical outlook on these 5 stocks post today's price reaction in the markets.
Indus Towers
Current Price: ₹ 381 Downside Risk: 8.2% Support: ₹ 368 Resistance: ₹ 384; ₹ 404 Indus Towers stock is seen witnessing stiff resistance around its weekly super trend line for the third straight week. The weekly trend line resistance stands at ₹ 404, and as long as this is not conquered the medium-term trend for the stock is likely to remain negative. CLICK HERE FOR THE CHART Amid today's fall, Indus Towers stock has slipped back below its 20-day Simple Moving Average (20-DSMA), which stands at ₹ 384, and expected to act as a near resistance for the stock. On the downside, the stock seems headed towards its trend line support on the daily scale at ₹ 368; below which a slide towards the 100-DMA at ₹ 350-odd levels seems imminent. ALSO READ | Nifty can see a BIG BREAKOUT from here on; charts hint at this target
Godrej Agrovet
Current Price: ₹ 677 Upside Potential: 18.8% Support: ₹ 649; ₹ 635; ₹ 615 Resistance: ₹ 738 Godrej Agrovet stock was seen consolidating in the broad range of ₹ 680 - ₹ 790 for the last seven months. With Friday's sharp fall, the stock is now threatening to break on the downside. The long-term chart shows presence of near support for the stock at ₹ 649; below which the stock can slide to ₹ 550 levels, with intermediate support anticipated around ₹ 635 and ₹ 615 levels. The bias for the stock is likely to remain tepid as long as it trades below ₹ 738. CLICK HERE FOR THE CHART
Phoenix Mills
Current Price: ₹ 1,535 Downside Risk: 24.4% Support: ₹ 1,430; ₹ 1,406; ₹ 1,330; ₹ 1,290 Resistance: ₹ 1,600; ₹ 1,630 Phoenix Mills share is threatening to break below its 20-Month Moving Average (20-MMA) - a key technical indicator the stock has been respecting since November 2020. The 20-MMA stands at 1,560, and the stock has repeatedly been testing this support since September 2024. CLICK HERE FOR THE CHART A breakdown can open the doors for likely fall towards ₹ 1,160 levels; with interim support seen around ₹ 1,430, ₹ 1,406, ₹ 1,330 and ₹ 1,290 levels. The bias at the counter is expected to remain negative as long as the stock trades below ₹ 1,700 levels. Near resistance for the stock exists at ₹ 1,600 and ₹ 1,630 levels. ALSO READ | Is it a good time to buy stocks? Chris Wood of Jefferies answers
Star Health & Allied Insurance
Current Price: ₹ 376 Upside Potential: 14.4% Support: ₹ 358; ₹ 344 Resistance: ₹ 408; ₹ 416 Star Health & Allied Insurance stock is expected to trade with a favourable bias as long as the stock holds above ₹ 358; below which significant support for the stock exists at ₹ 344. On the upside, the stock can spurt to ₹ 430 levels, with interim resistance seen at ₹408 and ₹ 416 levels. CLICK HERE FOR THE CHART
Ajanta Pharma
Current Price: ₹ 2,617 Upside Potential: 8.9% Downside Risk: 8.3% Support: ₹ 2,510 Resistance: ₹ 2,718; ₹ 2,763 Ajanta Pharma stock has retraced after testing resistance at its 200-DMA, which stands at ₹ 2,845, yet again. The stock in the last three months made several attempts to conquer this key hurdle, but has failed thus far. However, the near-term bias for the stock is expected to remain favourable as long as the stock holds above ₹ 2,510 levels; below which the next key support stands at ₹ 2,420. On the upside, the stock needs to break above the 200-DMA resistance for the trend to turn favourable. Till such time, the stock may gyrate between ₹ 2,400 - ₹ 2,850 levels. Interim hurdles for the stock are placed at ₹ 2,718 and ₹ 2,763 levels.
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