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db corp stock price: Huge volatility on D-St: What should investors do with Tata Investment, Campus Activewear and DB Corp?

Indian markets closed in the green for the fourth consecutive day on Tuesday following positive global signals. S&P BSE Sensex rallied more than 400 points, while Nifty50 closed above 18,000 levels.

By sector, buying is seen in finance, FMCG, metals, capital goods and consumer durables, while selling is seen in oil and gas, real estate, energy, utilities and autos.

Notable stocks include names like

up more than 11%, Campus Activewear hit a 52-week high and closed with a 20% gain on Tuesday.

Here’s what Viral Chheda, Technical Analyst, SSJ Finance & Securities, recommends investors to do with these stocks as the market continues to trade today:

Tata Investment: Buy at a discount
After making a low of around Rs 591 on March 20 on the weekly chart, the price had a strong rally to reach a high of Rs 1,734 in October 2021.

Volume is quite low during this period. The stock has seen some sell-off at highs as it fell almost 55% from its previous rally to a low of Rs 1,215 in June 2021.

After receiving support around Rs 1,200, the stock had a strong rally to reach an all-time high of Rs 2,255.

Currently, Tata Investment is being overvalued as we can see that the Stochastics Oscillators are moving in the overbought zone and from here we could witness some sell-off.

Investors holding the stock can book profits at this level and wait for some correction to re-enter around Rs 1,900. Hence, we recommend traders or investors to wait for some correction and then buy the stock at around Rs 1,900 or more lower when it drops to Rs 1,750.

The stop loss can be placed below Rs 1,550 on a weekly close and on the upside we could see Rs 2,300-2,700 in the next 8-10 months.

Campus Activewear: Buy
On the daily chart we can see that the stock opened at around Rs 360 on the day of listing and from there investors booked profits to bring the stock to Rs 297 in June 2022. .

After consolidating in the 295-335 range, the price broke out of the pattern on the higher side to create a further rally. Currently, the stock is trading at an all-time high of 562 odd levels. A Higher High Low was formed during this rally.

Stochastics are moving within an uptrend, with an increase in volume suggesting continued upside from here. The stock looks good from a long-term perspective and one can buy around this level with a 750-900 rally over the next 6-8 months.

Hence, we recommend buying at this level and beyond on a drop to Rs 550. The stop loss can be placed below Rs 450 on a weekly close and on the upside we could see Rs 750-900 in the next 6 – 8 months.

DB Corp: Buy
After an all-time high around 448 in October 2016, the price corrected sharply to an all-time low of 58 in May 2020 on the long-term chart.

Price created a Lower Top and Bottom Pattern. Over the next two years, the price moved within a 58-108 level range and once it broke the consolidation phase on the higher side we saw a strong rally towards 135 odd levels.

Trading volume was quite high during this rally. Currently, the stock is trading at a 30-month high and could see more upside moves.

The Stochastics Oscillator is moving in an uptrend along with an increase in volume, suggesting further upside. Traders can buy the stock at this level with a 200-250 upside target over the next 6-8 months.

Hence, we recommend buying at this level and beyond on a drop to Rs 110. The stop loss can be placed below Rs 80 on a weekly close and on the upside we could see the 200-250 level in the next 6 months- 8 months.

(Disclaimer: The recommendations, suggestions, views and opinions expressed by experts are their own. They do not represent the views of The Economic Times)

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