Tata Power, Inox Wind, CG Power shares: Should you enter at current levels?

Jatin Gedia, Technical Research Analyst at Teji Mandi, a subsidiary of Motilal Oswal Financial Services Ltd (MOFSL), sees the 23,200-23,100 range as a strong support zone for the benchmark Nifty50.

Offering a stock-specific view on Inox Wind Ltd in Business Today Television's (BTTV's) Daily Calls segment on Monday, the market expert stated that the stock's trend continues to remain weak.

"The trend for Inox Wind remains negative. The recent pullback towards Rs 105-110 levels coincided with the 20-week average, where the stock again witnessed selling pressure. At this point, I would suggest exiting the stock," Gedia also said.

Responding to a query on Tata Power Company Ltd, he advised investors to hold the stock at current levels instead of exiting.

"It has witnessed a decline from Rs 465 to Rs 400, reaching its 200-day moving average, acting as long-term support. I think exiting at current levels would not be suggestive, but in fact, the trader should hold on to this stock. We are expecting a move towards Rs 435 to Rs 440 from a short-term perspective. It has reached a very crucial long-term support, and I'm expecting a pullback," Gedia said.

In a separate query on CG Power and Industrial Solutions Ltd, Kranthi Bathini, Equity Strategist at WealthMills Securities, noted that the last quarter has been good for the company.

"Given the kind of focus the company is building up in semiconductor chip design, CG Power is among the front-runners. This is the reason that makes the stock attractive on every dip from a medium- to longer-term perspective. Valuations look a little stretched, but given the company's outlook and earnings visibility in both the power segment and sunrise sectors like semiconductor chip design, CG Power looks attractive and a compelling buy on dips," he stated.

Meanwhile, shares of CG Power slipped 3.41 per cent to close at Rs 809.35. Tata Power declined 0.68 per cent to Rs 404.40, while Inox Wind shed 0.42 per cent to settle at Rs 95.10.

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(DISCLAIMER: The views/advice/suggestions expressed in the video are solely by market analysts & investment experts. Please consult your investment advisers before making any financial decisions.)