Trade Spotlight | How to deal in Hind Copper, Gujarat Pipavav Port, HAL today

About this update from Gujarat Pipavav Port Limited

The market traded within the previous day's range and closed lower on March 26, but remained in the broader range of 21,800-22,200 levels since the recent recovery and is likely to trade within same levels, experts said, adding that a breach on either side of this range can give a direction to the Nifty 50 for 21,700 on the lower side and 22,300 on the higher side.On March 26, the Nifty 50 fell 92 points to 22,005, and the BSE Sensex was down 362 points to 72,470, while the Nifty Midcap 100 and Smallcap 100 indices outperformed the benchmarks, rising 1 percent and 0.4 percent.Stocks that outpaced the broader markets in terms of return performance included Hindustan Copper, Gujarat Pipavav Port, and Hindustan Aeronautics. Hindustan Copper has seen a decisive breakout of downward sloping resistance trendline adjoining highs of February 7 and March 4, and formed long bullish candlestick pattern on the daily charts with above average volumes. The stock gained 5 percent at Rs 282.55 and traded above all key moving averages.Gujarat Pipavav Port, too, saw a breakout of falling resistance trendline and formed robust bullish candlestick pattern on the daily charts with significantly higher volumes on the NSE. The stock rallied 9.3 percent to Rs 216 and traded above all key moving averages.Hindustan Aeronautics extended uptrend for third consecutive session with above average volumes, after forming a bottom around Rs 2,914 last week, and climbed 4 percent to Rs 3,301. The stock has formed long bullish candlestick pattern on the daily timeframe and now traded above all key moving averages.Here's what Riyank Arora of Mehta Equities recommends investors should do with these stocks when the market resumes trading today:Hindustan CopperThe stock has given a good breakout out of its falling wedge pattern on its daily charts. Volume in Tuesday's session was almost twice the average 30 days traded volume of the stock.With the stock trading well above its important moving averages, an immediate major support is placed at Rs 250 mark, below which the stock would lose its strength.Positional players are advised to keep a strict stop-loss at Rs 250 mark and aim for upside potential targets of Rs 302 and Rs 305 on the stock as this bullish momentum continues. We advise investors to maintain a hold and a buy-on-dips approach for the stock, with a strict stop-loss.Gujarat Pipavav...

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