zomato stock price: Big Movers on D-St: What should investors do with Vinati Organics, Zomato, and Tanla platforms?

The Indian market closed in the red for the second day in a row on Tuesday, tracking muted global signals. The S&P BSE Sensex fell nearly 500 points while the Nifty50 closed below 16,500 levels.

On the sectoral front, selling pressure was evident in Information Technology, Consumer Goods and Capital Goods, and Consumer Durables. The S&P BSE indices of medium and small cap companies were down 1.2 percent each.

Stocks that have been in focus include

That rose more than 3 percent to a new 52-week high, plunged more than 12 percent to another low life level, and was locked into the bottom 20 percent circle.

Here’s what Akhilesh Jat, Category Manager – Equity Research, CapitalVia Global Research, recommends that investors do with these stocks when the market resumes trading today:

Vinati Organics Ltd: Buy at 2140 | Stop Loss Rs 2070 | Target 2,250-2380 rupees

The share price of Finati Organics rose more than 9 percent during the day on Tuesday, to break its highest level in its life amid a recovery in global demand and the depreciation of the rupee.

Prices are constantly maintaining the exponential moving averages of Rs 21.50 and 200 days. The RSI momentum oscillator is standing at 67 which indicates that the price may continue its upward movement in the upcoming sessions as well.

Zomato Limited: Sell On Rise

Zomato’s stock price has fallen more than 12 percent for two consecutive sessions ahead of the pre-offer stock holding period that ended on July 23.

Stock prices are under selling pressure before the one-year shutdown period ends for promoters, company employees and company founders.

Zomato’s stock price is down more than 75 percent from its all-time high. The current trend of the stock looks weak and it is expected to move in a downtrend in the near term, in this scenario one should use the strategy of selling on the rise in the stock.

Tanla Limited Platforms: Avoid

Tanla Platform’s share price plunged 20 percent to a 52-week low after the company reported earnings for the quarter ending in June. The stock has lost more than 61 percent of its NSE market value in the 2022 calendar year, so far.

General trend stocks are weak and on the downside, Rs 650 may act as a major support level. The MACD on the daily chart has crossed the zero line with a negative crossover indicating that it may continue its downtrend and the RSI is in oversold territory, so at the current juncture one should avoid this highly volatile stock.

(Disclaimer: Recommendations, suggestions, views and opinions provided by experts are their own. These do not represent the views of the Economic Times)

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