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What should investors do now about SRF, India Cements, Birlasoft, and Motherson Sumi Systems?

When the market resumes trading today, here’s what Mehul Kothari of Anand Rathi Shares & Stock Brokers suggests investors do with these equities.
The BSE Sensex increased by 612 points to 56,931, while the Nifty50 increased by 185 points to 16,955.

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The most buying interest was seen in the broader markets. The Nifty Midcap 100 and Nifty Smallcap 100 indices each gained 1.55 percent and 2.15 percent. The surge spanned all sectors, with the Bank, Auto, IT, Metal, and Pharma indices leading the way with gains of 1-2 percent.

SRF, India Cements, Motherson Sumi Systems, and Birlasoft were among the top five gainers in the futures & options market on Wednesday, each gaining approximately 6%.

 Birlasoft
Birlasoft

SRF rose 6.13 percent to Rs 2,306, India Cements increased 5.72 percent to Rs 186.75, Birlasoft increased 5.6 percent to Rs 500.75, and Motherson Sumi Systems increased 5.69 percent to Rs 215.55.

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The daily chart of SRF is shown below, which shows that the stock has confirmed a range breakout over Rs 2,250. The price has broken above the ICHIMOKU cloud, indicating greater strength.

Furthermore, the daily RSI (relative strength index) has broken above the 60 level, indicating strength.

Long-term traders should hold positions for an upside goal of Rs 2,400–Rs 2,500, while investors should hold the stock because the long-term structure is quite optimistic. For the time being, support is set at Rs 2,000.
India Cements is a company based in India.

India Cements has been trading in a rising channel since the bottom of the year 2020, as shown on the chart. The stock’s latest corrective move caused it to retest its downward range, and it has since turned.

As a result, the recent low of Rs 170 will serve as a vital support for traders. Those who own the stock should have a stringent stop loss of Rs 170 in mind. On the upside, the stock has the ability to reach the channel’s upper level, which is near the Rs 240 mark.

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