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MTAR, Sammaan Capital: Strategies for 3 stocks with high retail holdings
Source: Business Standard
The DIIs, mainly mutual funds, have so far pumped in Rs 3.14 trillion (Rs in lakh crore) in Indian stocks riding on steady inflows from retail investors, by way of SIPs (Systematic Investment Plan).
As a result, the BSE Sensex thus far in 2024 has gained 12.8 per cent, despite a 1 per cent decline in trades today. The NSE Nifty 50 index holds a stronger 14.7 per cent surge at 24,900-odd levels.
However, amid this market boom select stocks continue to underperform, and thus create a dent in investors’ portfolios.
Here are 3 such stocks, wherein retail shareholders holding stands in the range of 37 – 45 per cent, and have underperformed significantly on the bourses so far this calendar year.
The shareholding pattern of Sammaan Capital, formerly known as Indiabulls Housing Finance, as of June 2024 quarter, shows that retail investors hold up to 45.53 per cent equity in the firm. Of which, 34.16 per cent are small investors with investments up to Rs 2 lakh. Meanwhile, the stock has delivered a near 16 per cent loss on the bourses thus far.
Can these stocks recover the lost ground, or will they continue to remain a thorn in retail investors’ portfolios. Here’s what the charts suggest:
MTAR Technologies
Current Price: Rs 1,791
Downside Risk: 9.7%
Support: Rs 1,784; Rs 1,723
Resistance: Rs 1,855; Rs 1,862; Rs 1,952
Break and sustained trade below Rs 1,723 can trigger a fall towards Rs 1,617. On the upside, the stock will need to conquer its 200-DMA, which now stands at Rs 1,952.
Sammaan Capital
Current Price: Rs 162.40
Upside Potential: 13.9%
Support: Rs 158; Rs 151
Resistance: Rs 174; Rs 177
At present, the stock is seen trading below its 200-DMA, which stands at Rs 174; above which near resistance is seen at Rs 177. For the bias to turn favourable, the stock will need to clear these hurdles, post which it can potentially rally to Rs 185-odd levels.
On the downside, the stock is attempting to form a support base around Rs 158; below which support for the stock exists at Rs 151. CLICK HERE FOR THE CHART
Happiest Minds
Current Price: Rs 807
Downside Risk: 4.7%
Support: Rs 805; Rs 792
Resistance: Rs 827; Rs 854
In case, the stock fails to conquer the 200-DMA hurdle, the stock may fall back toward its shorter-term moving average in search of support. On the downside, the stock can dip to Rs 769. For the sentiment to revive at the counter, the stock will need to conquer its 200-DMA, and also trade consistently above its 100-WMA (Weekly Moving Average), which stands at Rs 854. CLICK HERE FOR THE CHART
First Published: Sep 06 2024 | 2:08 PM IST
