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Midcap Stocks: MRPL, RailTel, Hudco – Where will money be made in a falling market?
There were some reports on Thursday that the situation might improve, due to which there was a slight rise in the market, but later after those reports were refuted, the confidence of investors again weakened. The impact of this geopolitical tension that has been going on for seven consecutive days is clearly visible on the market sentiment. Its impact was not limited to the benchmark index only, but midcap and smallcap stocks also saw increasing selling pressure amid fluctuations.
Stock-specific action in midcap stocks
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However, amid weakness in the market, stock-specific movements were seen in some stocks. A rise of about 5 percent was seen in the shares of Orkla India. The reason for this was the positive brokerage report of Citi, in which the target price has been increased with ‘buy’ rating on the stock.
At the same time, a rise of about 7 percent was seen in the shares of Factor Analytics. The company’s quarterly results have been strong with profits growing nearly six times quarter-on-quarter. Apart from this, the shares of MOIL India also saw a rise of more than 2 percent, because the company has increased the prices of manganese ore for March 2026.
IT shares supported the market
Amidst the weak market, the IT sector tried to support the market to some extent. Shares like Infosys, TCS, HCL Technologies and NTPC witnessed strength. Reliance Industries was also seen doing business at a brisk pace.
On the contrary, pressure was clearly visible in banking shares. Many big banking stocks including ICICI Bank, Axis Bank, SBI and HDFC Bank saw a decline, due to which there was pressure on Bank Nifty.
Important levels of Nifty and Bank Nifty
According to Rupak De, Senior Technical Analyst, LKP Securities, the market currently appears to be in a weak position. He said the recent recovery was not very convincing and the market weakness may continue.
Talking about technical levels, the level of 24,400 is considered an important support for Nifty, which is about 200 points below the current level. On the upside, strong resistance is being seen around 24,750. Talking about Bank Nifty, the downward pressure may continue and it may slip to the level of 58,000, while resistance may be seen around 58,700.
According to expert Rupak De, trading opportunities are being created in some selected shares in the current market. His first pick is MRPL, which has recently seen a breakout above consolidation. He has advised to buy this stock around Rs 203 and has given a target of Rs 215, while he has advised to keep the stop loss at Rs 194.
The second stock is RailTel. Buying from lower levels has been seen in the railway sector in recent times. It has been advised to buy this stock around Rs 296 and keep it for a target of Rs 320, while it has been asked to keep the stop loss at Rs 280.
Experts are also keeping an eye on HUDCO as the third stock. There are signs of recovery after the recent decline. Keeping a stop loss of Rs 177, a target of Rs 190 is being seen in this stock.
(Disclaimer: This article is for informational purposes only and should not be construed as investment advice in any way. ET NOW Swadesh recommends its readers and viewers to consult their financial advisors before taking any money-related decisions.)
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