MTAR Tech, Ajanta Pharma, Tube Investments of India: How to trade these 3 buzzing stocks

Indian benchmark indices may open on a muted note on Wednesday after posting big gains on Tuesday over the India-US trade deal and a strong rupee, boosting the expectations of the FII inflows. Select buzzing stocks like MTAR Technologies, Tube Investments of India Ltd and Ajanta Pharma are likely to remain under the spotlight of traders for the session today. Here is what Rajesh Palviya, Head of Research at Axis Securities has to say on them ahead of Wednesday’s trading session:
 

Tube Investments of India | Buy | Target Price: Rs 2,650-2,760 | Stop Loss: Rs 2,380

Tube Investments of India has decisively surpassed the past three-month down-sloping trendline resistance at the Rs 2,400 levels on a closing basis, along with huge volumes. This indicates a short-term trend reversal. Currently, the stock is well placed above its  20-day SMA (Rs 2,365), which reconfirms the bullish trend. The daily and weekly strength RSI is in positive territory, which signals rising strength. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 2,650-2,760, and its downside support zone is the Rs 2,415-2,350 levels.
 

MTAR Technologies | Buy | Target Price: Rs 3,355-3,500 | Stop Loss: Rs 2,845

MTAR Technologies Ltd is in a strong uptrend across all time frames, forming a series of higher tops and bottoms indicating positive bias. On the weekly chart, the stock has confirmed a ’rounded bottom’ formation breakout at Rs 2,910 levels on a closing basis along with huge volumes, which reconfirms the bullish trend and increased participation.  The daily and weekly ‘band Bollinger’ buy signal indicates increased momentum. The stock is well placed above its 20, 50,100 and 200-day SMA, and these averages are also inching up along with rising prices, which reconfirms a bullish trend.  The daily, weekly and monthly strength RSI is in positive territory, which signals rising strength. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 3,355-3,500, and its downside support zone is the Rs 2,950-2,740 levels.
 

Ajanta Pharma | Buy | Target Price: Rs 3,060-3,150 | Stop Loss: Rs 2,760

Ajanta Pharma Ltd is in an uptrend, forming a series of higher tops and bottoms on the daily and weekly charts. The stock is well placed above its 20, 50,100 and 200-day SMA, and these averages are also inching up along with rising prices, which reconfirms a bullish trend. The past couple of months’ rising volumes indicate increased participation. The daily, weekly and monthly strength RSI is in positive territory, which signals rising strength. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 3,060-3,150, and its downside support zone is the Rs 2,785-2,740 levels.