Domestic markets reversed early gains and closed lower on Wednesday even as the RBI took the first step towards a rate cut in its monetary policy review.

Stocks that were in focus include names like Varun Beverages, which gained 0.3%, Suzlon Energy, which jumped 4.7%, and Torrent Power, whose shares rose 6.2% on Wednesday.

Here’s what Riyank Arora, Technical Analyst at Mehta Equities, recommends investors should do with these stocks when the market resumes trading today.

Varun Beverages

Varun Beverages is showing initial signs of a reversal, with the RSI at 44 indicating a neutral momentum profile. The key support at 576 provides a solid foundation, while a decisive break above the immediate resistance at 610 could propel the stock towards the next resistance zone between 650 and 660.The overall outlook suggests a potential recovery if buying momentum strengthens.

Suzlon Energy

Suzlon Energy is currently holding firm at its support level of 71, with the RSI at 47 reflecting improving momentum. A sustained break above the resistance at 86 may pave the way for a rally toward 95.Additionally, the AVWAP indicator signals a likely reversal, reinforcing a positive near-term trajectory for the stock.

Torrent Power

Torrent Power continues to exhibit strong bullish momentum, with the daily RSI at 60 confirming upward strength.

A breach of the resistance at 1984 would open the path for further gains toward 2100, while the support at 1880 provides a reliable cushion for potential pullbacks. The stock remains well-positioned for continued positive momentum.

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