Indian market closed in the red for the third consecutive day in a row on Tuesday tracking muted global cues. The S&P BSE Sensex fell more than 160 points, while the Nifty50 closed above 17300 levels.

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Sectorally, selling pressure was seen in telecom, auto, energy, and FMCG stocks, while buying was visible in power, utilities, oil & gas and healthcare.

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Stocks that were in focus include ITC that closed with losses of over 2 per cent, APL Apollo Tubes closed with gains of nearly 5 per cent and Lupin rose nearly 7 per cent.

Here's what Vijay Dhanotiya, Lead of Technical Research at CapitalVia Global Research Limited, recommends investors should do with these stocks when the market resumes trading on Wednesday:

ITC: Buy

ITC has been trading in sideways channel and has taken a support of 200-EMA. After a reversal from 200-EMA, it has picked up momentum and we expect the momentum to continue.  

We have also observed momentum indicators like RSI and MACD indicating positive momentum in the stock. We recommend investors to buy the stock above Rs 240 with a target of Rs 265 and a stop loss can be placed below Rs 215.

APL Apollo Tubes: Buy

The stock has been trading in an upward trending channel. It has also given a breakout above all-time high. We have also observed momentum indicators like RSI and MACD indicating that the positive momentum in the stock will continue.

We recommend investors to buy APL Apollo Tubes above Rs 1,070 with a target of Rs 1,500 and a stop loss can be placed below Rs 880.

Lupin: Buy

Lupin has given a breakout of descending channel and now we can expect some positive momentum in the stock.

The Relative Strength Indicator (RSI) has also suggested a positive diversion, indicating primary signs of reversal. We recommend investors to buy the stock above Rs 970 with a target of Rs 1160 and a stop loss can be placed below Rs 850.

(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)