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Stocks to sell on rise: Apollo Tyres, Cyient may fall upto 34%, show charts

Metropolis Healthcare, Alembic Pharma and Tejas Networks are the other 3 stocks to witness a 'Death Cross' on the chart in recent days; technically this is a negative development for these stocks.

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Rex Cano Mumbai

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The NSE Nifty 50 index has bounced back by nearly 3 per cent from its recent low at 22,787. On Friday, a day ahead of the Union Budget, the NSE benchmark index quoted 0.7 per cent higher at 23,400 levels in intra-day deals. Similarly, stocks across-the-board have also recouped losses in the last four trading sessions.  As such, here are 5 such stocks that could see limited upside, and fall to lower lows in the coming trading sessions owing to a 'Death Cross' pattern on the daily charts.  Technically, the term 'Death Cross' is used when short-term moving average of the underlying stock or index falls the longer-term moving average on the daily charts. Meaning, the 50-DMA (Daily Moving Average) slips below the 200-DMA. In general, this development is considered as bearish and indicates further decline.  In recent days, including the Nifty 50 index, stocks such as Alembic Pharma, Apollo Tyres, Metropolis Healthcare, Cyient and Tejas Networks have witnessed a 'Death Cross' pattern on the daily chart.  Here's a technical outlook on these 5 stocks.  Alembic Pharmaceuticals  Current Price: Rs 926  Downside Risk: 19%  Support: Rs 873; Rs 810  Resistance: Rs 1,080  Apart from the 'Death Cross' pattern, Alembic Pharma stock is on the verge of giving a negative breakout on the weekly scale. A weekly close below Rs 931, shall confirm the same. As such, the overall bias for the stock shall remain negative as long as the stock trades below Rs 1,080 levels. CLICK HERE FOR THE CHART  On the downside, the stock seems to be seeking support around the 100-WMA (Weekly Moving Average), which stands at Rs 873. Break and trade below the same can trigger a fall towards Rs 750; with interim support likely around Rs 810.  ALSO READ: 5 largecap buy, sell stock ideas post Q3 results  Metropolis Healthcare  Current Price: Rs 1,794  Downside Risk: 18.9%  Support: Rs 1,709  Resistance: Rs 1,869; Rs 1,930; Rs 2,190  Metropolis Healthcare stock has near resistance at Rs 1,869 and Rs 1,930; above which the upside for the stock seems capped around Rs 2,190. On the downside, the stock recently tested support at the 100-WMA around Rs 1,709 and has partly bounced back. Break and sustained trade below the same can trigger a fall towards Rs 1,455. CLICK HERE FOR THE CHART  Apollo Tyres  Current Price: Rs 437  Downside Risk: 22.2%  Support: Rs 415; Rs 383  Resistance: Rs 455; Rs 471; Rs 503  Apollo Tyres stock faces near resistance at Rs 455; above which key hurdles for the stock exist at Rs 471 and Rs 503. As long as the stock trades below these hurdles, it mood is expected to remain subdued. On the downside, the stock seems on course to test the super trend line support on the monthly chart at Rs 368; below which a fall to Rs 340 seems likely. Interim support for the stock can be expected around Rs 415 and Rs 383 levels. CLICK HERE FOR THE CHART  Cyient  Current Price: Rs 1,456  Downside Risk: 34%  Support: Rs 1,280; Rs 1,210; Rs 1,120  Resistance: Rs 1,620  Cyient is expected to trade with a negative bias as long as the stock sustains below Rs 1,620. On the downside, the stock recently tested support around its 200-WMA at Rs 1,280. Break and sustained trade below the same can drag the stock towards Rs 960 levels; with interim support seen at Rs 1,210 and Rs 1,120. CLICK HERE FOR THE CHART  Tejas Networks  Current Price: Rs 906  Downside Risk: 24.4%  Support: Rs 785; Rs 770; Rs 705  Resistance: Rs 970; Rs 1,050  Tejas Networks is likely to trade with a negative bias as long as the stock trades below Rs 1,050. Near resistance for the stock stands at Rs 970. On the downside, the stock seems on course to test Rs 685. Interim support for the stock can be anticipated around Rs 785, Rs 770 and Rs 705 levels. CLICK HERE FOR THE CHART 

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First Published: Jan 31 2025 | 1:00 PM IST

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