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On January 21, the Indian market saw a sharp decline, with stocks like Zomato, Dixon Technologies, and Newgen Software experiencing significant drops. Technical analysis suggests potential rebounds for these stocks at key support levels, but a further decline is possible if these levels are breached. Analysts share insights on how traders should approach these stocks in the upcoming session.

The Indian market is expected to trade higher on Wednesday, supported by positive global cues. The Nifty futures closed down 1.26% on Tuesday, while India VIX rose nearly 4%. Options data suggests a broader trading range between 22,500-23,500, with immediate support and resistance at 22,800-23,300. Experts recommend short-term buy targets for stocks like Tata Consumer Products and AU Small Finance Bank.

RailTel Corporation of India is in focus after securing a Rs 46.79 crore work order from North Western Railway for signaling. The company has also recently received other significant contracts, including one from Bharat Coking Coal Ltd and the Gujarat government. RailTel, now a Navratna CPSE, has a market capitalization of Rs 15,116 crore. However, analysts recommend a "Strong Sell."

Domestic benchmarks Sensex and Nifty50 opened higher, driven by gains in banking and IT stocks, following a seven-month low in the previous session. Sun Pharma, Infosys, and L&T saw gains, while IndiaMart InterMesh dropped 10% and ICICI Prudential Life Insurance fell 8.5% after weak Q3 earnings.

Tata Technologies share price: The revenue from operations for Q3FY25 stood at Rs 1,317 crore, reflecting a 2% growth compared to Rs 1,289 crore in the corresponding quarter of the previous financial year.

Motilal Oswal Financial Services gives a buy recommendation for Indian Hotels Company, with a target price of Rs 960, due to strong performance and potential growth in the tourism and hospitality sector. The company shows a significant increase in income and profit, with a robust management team driving future growth.

Macquarie predicts demand recovery and price hikes in H2CY24, boosting margins in the cement sector. Ultratech Cement is the top pick, with Ambuja, ACC, and Ramco Cement also highlighted.

The Relative Strength Index of the stock stood at 41.13 on Wednesday.

HDFC Securities maintains an add rating on Axis Bank with a revised target of Rs 1190. The bank reported a net profit of Rs 6742.29 crore for Q3FY25. Axis Bank faces challenges with deposit growth and elevated stress in unsecured retail credit. Promoters hold 8.23% stake, while FIIs and DIIs own 47.31% and 37.33%, respectively.

​So, there is no simple answer that, look, this is the reason and at this point if this happens, it is a good buy and not all stocks will turn out to be good buys or entry points.