Thursday, January 9, 2025

Stocks to buy today: Delta Corp, Waaree Energies and Tata Technologies on investors’ radar

Thursday, January 9, 2025, 2:03
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Equity indices ended marginally lower in a volatile session on Wednesday, as investors stayed on the sidelines ahead of the earnings season amid lower economic growth projections.Stocks that were in focus include names like Delta Corp, which rose 3% and Waaree Energies, which declined 3% and Tata Technologies, whose shares gained 0.37% on Tuesday.Here’s what Riyank Arora, Technical Analyst at Mehta Equities, recommends investors should do with these stocks when the market resumes trading today.Delta CorpDelta Corp is showing early signs of a reversal as it bounces off a critical support level of Rs 110. The stock has a robust base at Rs 104, which should act as a safety net in case of any downside.If the current momentum sustains, the stock is well-positioned to move higher towards Rs 120 and Rs 124 levels. A bullish sentiment is likely as long as the support levels are intact.Waaree EnergiesWaaree Energies is trading near its major support at Rs 2675, a decisive level for its near-term trend. A breakdown below this support could lead to a decline towards Rs 2500, indicating bearish momentum.However, if the support holds firmly, the stock has the potential to rebound towards Rs 2850 and Rs 3000 levels. Traders should monitor the price action closely around Rs 2675 for a clear directional move.Tata TechnologiesTata Technologies has broken below the critical level of Rs 883, signaling negative momentum on the charts. The stock is witnessing a pullback to retest the breakdown zone, which could act as a resistance.If the downward pressure persists, the stock is expected to decline further towards Rs 850 and Rs 825 levels. A strict stop loss at Rs 920 is essential to mitigate risks in case of unexpected upward reversals.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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