TCS, Maruti Suzuki, Airtel: What should be your strategy amid the market volatility

The bears tightened their grip on Dalal Street on Friday, with the BSE Sensex plunging 671.15 points, or 1.12 per cent, to 59,135.13. The NSE Nifty  also fell 176.70 points, or 1 per cent, to 17,412.90.

Select stocks such as Maruti Suzuki India Ltd, Tata Consultancy Services and Bharti Airtel were on traders' radar. Here is what Mileen Vasudeo, Senior Technical Analyst at Arihant Capital Markets has to say on these stocks ahead of Monday's trading session:

Maruti Suzuki India | Hold | Target Price: Rs 8,737-8,800 | Stop Loss: Rs 8,450

Maruti Suzuki is trading below its 200-day SMA. However, the weekly MACD is in the positive territory and the current price action has formed a positive candle with higher volumes.  One can hold the stock with a stop loss of Rs 8,450 and a target of Rs 8,737-8,800 levels for the next couple of weeks.

Tata Consultancy Services | Buy | Target Price: Rs 3,450-3,550 | Stop Loss: Rs 3,250

Tata Consultancy Services Ltd (TCS) has taken support at the 200-day SMA and formed a bullish Hammer candlestick pattern and is making higher-high formation. By combining both parameters, we believe that we may witness upside momentum on the counter. One can buy the stock with a stop loss of Rs 3,250 for a target of Rs 3,450-3,550 levels over the next couple of weeks.

Bharti Airtel | Hold | Target Price: Rs 800-830 | Stop Loss: Rs 750
Bharti Airtel Ltd has formed a Doji candlestick pattern on the daily chart. This suggests indecisiveness prevailing on the counter at the current level. However, the stock is trading above the 200-day SMA, Further, the MACD on the daily chart is moving in a positive direction. Besides, the stock is showing higher relative strength. Hence, one can hold with a stop loss at Rs 750 and a target of Rs 800-830 levels in the next couple of weeks.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today)

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