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L&T, Axis Bank, Bharti Airtel: Trading strategies for stocks post Q2 result

While the overall sentiment remained highly subdued, stock-specific approach courtesy September earnings season gave investors an opportunity reap gains
Markets have been highly volatile during the current week as record new cases of coronavirus in the US and Europe made investors risk averse. While the overall sentiment remained highly subdued, stock-specific approach courtesy September earnings season gave investors an opportunity reap gains.

Nearly 300 companies were scheduled to report their Q2 earnings this week. Of these, HeroMoto Corp, Larsen & Toubro, Axis Bank, Tata Motors, and Bharti Airtel have reported in-line numbers, giving investors opportunity to book profits. Shares of L&T, for instance, slipped 5 per cent at Rs 936 on the BSE in the intra-day deals today as investors booked profit after the announcement of the company's Q2 results. The stock had gained for eight straight trading days, rallying 11 per cent, as compared to 0.48 per cent rise in the S&P BSE Sensex till Wednesday. READ MORE

Larsen & Toubro Ltd (LT): The stock witnessed a gap-down start on October 29 after breifly breaching the 200-days moving average (DMA) on the upside. If the stock fails to show any immediate reversal, it may not be able to hold the positive stance. The support levels come in the range of Rs 925 to Rs 923, which are its 100-DMA and 50-DMA levels, respectively. CLICK HERE FOR THE CHART

Axis Bank Ltd (AXISBANK): As of now, the stock is well placed above 200-DMA at Rs 489.60, which implies that the stock price is fairly competent to strive against the resistance and selling pressure. Although, the Relative Strength Index (RSI) has made a negative crossover, the support levels of 60 value is still holding the upside bias. That said, a dip below RSI 60 value may lead to bearish sentiment. On the higher side, a strong move above Rs 520 levels may further push the stock towards Rs 540 and Rs 555 levels. CLICK HERE FOR THE CHART

Tata Motors Limited (TATAMOTORS): Stock of the Tata Group company has been very volatile above 200-DMA on the back of thin follow-up buying. This scenario has arrested the stock price in the range of Rs 150 to Rs 120 levels. Currently, the outlook remains subdued as it is trading in a narrow range. On a short term scale, the immediate support is placed at Rs 125 with the resistance at Rs 146 levels. CLICK HERE FOR THE CHART

Hero MotoCorp Ltd (HEROMOTOCO): The stock price is testing the support of 200-weekly moving average (WMA) located at Rs 2,858, Down below, the next support is seen at Rs 2,800 levels. Till these levels are held, the upside bias is going to triumph. The stock now needs to decisively close above Rs 3,100 levels to build strength, intensity and momentum on RSI and Moving Average Convergence Divergence (MACD). CLICK HERE FOR THE CHART

RBL Bank Ltd (RBLBANK): Investors can avoid the stock if it fails to hold Rs 188-mark as the overall trend is sluggish below this level. Immediate support for the stock stands at Rs 170 levels on a closing basis with MACD struggling to cross the zero line. CLICK HERE FOR THE CHART

Bharti Airtel Ltd (BHARTIARTL): Bharti Airtel's stock price have been consolidating around Rs 400 levels for sometime now. However, the recent rebound has made Rs 440-mark as the decisive level. As long as the stock defends this mark, the upside bias may lead to upward rally towards Rs 480 and Rs 510 levels. Moreover, the trend is optimistic as RSI is favourably sustaining above 50 value, a half way mark that defines the trend. CLICK HERE FOR THE CHART


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