BSE, Zomato, Tanla: 1 in 10 Nifty500 stocks up over 3% today

Technical charts show that Tanla Platforms, Mazagon Dock have given a fresh breakout on the daily charts; these 2 stocks along with BSE, Zomato and GR Infra can potentially rally another 24 per cent.

As equity markets extended the rally for the third straight trading session, 1 in every 50 stocks from the Nifty 500 index surged more than 3 per cent in intra-day deals on Wednesday. Out of which, 3 stocks – namely – Tanla Platforms, GR Infraprojects and Mahindra Lifespace Developers zoomed over 12 per cent each; while another 10 shares were up in the range of 5 – 8 per cent in Wednesday’s intra-day trades.

Meanwhile, the Nifty 500 index rose 0.7 per cent to 20,798, and has gained 3.1 per cent in the last three trading sessions. In comparison, the NSE Nifty 50 index was up 0.3 per cent today, and has rallied 2.2 per cent in the same period.

Against this background here’s a trading strategy in 5 buzzing stocks of the day.

BSE

Current Price: Rs 4,349

Upside Potential: 16.6%

Support: Rs 4,170; Rs 4,035

Resistance: Rs 4,380; Rs 4,565; Rs 4,725

BSE stock has surged nearly 5 per cent in today’s trading session and rallied nearly 11 per cent in the last three days. Technically, the stock has recouped after falling below its 200-DMA (Daily Moving Average) in the recent market correction. Key momentum oscillators, too, have turned favourable for the stock, thus implying that the 200-DMA at Rs 4,035 may act as a key support for the stock, with near support visible at Rs 4,170.

On the upside, the stock can potentially rally to Rs 4,725 levels; above which a spurt to Rs 5,070 seems likely. Interim hurdles for the stock are seen at Rs 4,380 and Rs 4,565 levels.

Zomato

Current Price: Rs 225.50

Upside Potential: 10%

Support: Rs 218; Rs 208

Resistance: Rs 230.75; Rs 237; Rs 240

Zomato shares have gained nearly 4 per cent in Wednesday’s trading sessions, and has surged over 12 per cent in the last three trading sessions. At present levels, the stock is seen trading above its 20- and 50-DMA at Rs 220.70 and Rs 224.90. Chart shows presence of overhead resistance at Rs 230.75; above which a rally to Rs 248 can be triggered. Interim hurdles for the stock can be expected at Rs 237 and Rs 240.

The near-term bias for the stock is expected to remain positive as long as the stock holds above Rs 218; trade below which can see the stock re-test levels of Rs 208.

Mazagon Dock Shipbuilders

Current Price: Rs 2,467

Upside Potential: 15.5%

Support: Rs 2,375

Resistance: Rs 2,530; Rs 2,675

Mazagon Dock Shipbuilders stock has given a fresh breakout on the daily chart. The near-term bias is expected to remain upbeat as long as the stock holds above Rs 2,375. The stock is also seen trading above its key moving averages on the daily and weekly scale. The stock may face some resistance around Rs 2,530 and Rs 2,675 levels; break and sustained trade above the same can potentially trigger a rally towards record high for the stock at Rs 2,850 levels.

Tanla Platforms

Current Price: Rs 515

Upside Potential: 23.7%

Support: Rs 493; Rs 463

Resistance: Rs 531; Rs 585

Tanla Platforms stock has surged over 16 per cent, and is seen trading above its short-term moving average and the trend line resistance. A close above Rs 493 shall confirm a breakout on the daily chart after more than two months. As such, the near-term bias for the stock is expected to remain favourable as long as the stock holds above Rs 493 and Rs 463 support levels.

On the upside, the stock can potentially rally to Rs 637; with interim resistance likely around Rs 531, Rs 585 levels.

GR Infraprojects

Current Price: Rs 1,068

Upside Potential: 18.9%

Support: Rs 985

Resistance: Rs 1,070; Rs 1,110; Rs 1,160

GR Infraprojects shares have rallied nearly 14 per cent on heavy volumes. The stock is seen trading firmly above its 20-DMA, which stands at Rs 985 for the first-time since December 10, 2024. At present, the stock is seen testing resistance at Rs 1,070 levels, above which the next near hurdle exists at Rs 1,110.

Break and sustained trade above the key hurdles, can potentially trigger a rally up to Rs 1,270 on the stock, with some resistance likely around Rs 1,160 levels.

Disclaimer: Moneywealth research provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

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