After opening flat, the Indian market was trading with marginal cuts in early trade on Wednesday. The broader Nifty50 declined 30.35 (-0.17%) to trade at 17,315.10, while the Sensex was hovering near 58,000 after declining by 0.10% around 50 points in the early trade. 

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Sectorally, except IT, which gained 0.8%, all Nifty indices slipped in the red. Auto and consumer durable stocks declined the most among sectoral indices. 

Meanwhile, certain stocks came in focus on Tuesday. These stocks were Kansai Nerolac Paints, Escorts Kubota and EPL. On Wednesday, Kansai Nerolac Paints gained around five per cent, Escorts Kubota traded flat with marginal gains and EPL dropped more than one per cent in early trade.  

Here is what Santosh Meena, Head of Research, Swastika Investmart Ltd, recommends investors should do with these stocks: 

Kansai Nerolac Paints 

The counter is witnessing a smart bounce back with a rounding bottom formation and it managed to close above its 200-DMA. On the upside, Rs 540 is an immediate hurdle. Above this, we can expect a move towards Rs. 580. On the downside, if it slips below the 450 level then 400 is the next support level. 

Escorts Kubota 

The Counter is facing trendline resistance on the daily chart. The structure of the counter is a little bit distorted as it trades below the 20, 100,200-Days SMA and the momentum indicators are also negatively poised. On the downside, Rs 1600 is the strong support level where we can expect a bounce-back while on the upside, the level of Rs 1700 is likely to act as an immediate hurdle. 

EPL   

The Primary Structure of the counter is following the downtrend in the longer time frame. The Overall structure is distorted as it trades below its all-important moving averages, however, it is having a demand zone near 150. On the upside, 200 is an immediate susceptible area; above this, we can expect a run-up towards 220+ levels in the near term. 

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