Big Movers on D-St: What should investors do with Paytm, Policybazaar and Zomato?

The S&P BSE Sensex rose nearly 400 points while the Nifty50 closed above 17800 levels.

Sectorally, buying was seen in IT, healthcare, metals, and consumer durables while selling was seen in telecom, capital goods, and utilities.

Stocks that were in focus include names like

which was up nearly 15%, PB Fintch closed with gains of over 6%, and rallied over 9% on Wednesday.

Here’s what Naveen Mishra, Senior Research Analyst – Equity Research at CapitalVia Global Research Ltd recommends investors should do with these stocks when the market resumes trading today:

Paytm: Buy
Paytm shares soared more than 25% in the last 2 trading sessions to a new over three-month high of Rs 698. The significant purchase is the result of the company’s better financial results in the three months ending in December (Q3FY23).

Overall Paytm has set a positive momentum. There is a psychological level of Rs 700, if it sustains above it, then we can see further upside movement in it. On the upside Rs 850 can act as a crucial resistance level.Policybazaar: Buy
Limited (Policybazaar) is a business that offers an online platform for insurance and lending products, by utilizing the power of technology, data, and creativity.

Shares rose to Rs 492, up around 15% in February month with heavy volume, as investors expect better financial results.

Since listing it is continuously in a downtrend, many times it tried to recover but could not sustain on a higher level. Now there is a resistance level of Rs 500, if it sustains above it, then a bullish trend can be seen.

Zomato: Hold
On the chart, it was struggling to stay above the level of Rs 50. A breakout occurred in last session, and it jumped by 10% in one day while also managing to close above the Rs 51 level. It is also trading above the 30-Day EMA at the moment, which is encouraging for the continuation of the uptrend.

Investors should hold their positions as long as the price remains above the closing-basis level of Rs 47. On the higher side, the next obstacle is visible at the level of Rs 56; once it is passed then levels of Rs 62 and Rs 66 can be seen.

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