The market remained lacklustre for the third consecutive session with continuously monitoring the developments related to geopolitical tensions between Ukraine and Russia, and finally ended moderately lower on February 18, the last trading day of the week.
The BSE Sensex fell 59 points to 57,833, and the Nifty50 declined 28 points to 17,276, while the broader markets underperformed benchmarks with the Nifty Midcap 100 and Smallcap 100 indices falling around a percent each.
Stocks that were in focus include India Cements which was the biggest gainer in the futures and options segment, climbing 3.53 percent to Rs 212.45, Quess Corp which rallied 8.1 percent to Rs 648.25, Elgi Equipments which gained 4.88 percent at Rs 393.60 and Speciality Restaurants which surged 7.37 percent to Rs 146.50.
However, Ambuja Cements was the top loser in the futures and options segment, falling 6 percent to Rs 338.35.
Here's what Rajesh Palviya of Axis Securities recommends investors should do with these stocks when the market resumes trading today:
In the past couple of months’ downfall, the stock lost almost by 20-25 percent from its recent swing high. However, the last week's sharp rebound from Rs 558 levels signals strong buying at lower levels. This weekly price action has also formed a hammer candlestick - a short-term trend reversal pattern. Hence any follow-up positive close above Rs 656 may confirm the above said pattern.
Highest volumes at lower levels signals increased participation. The daily strength indicator RSI (relative strength index) has turned bullish along with positive crossover which supports upside momentum.
Investors should buy, hold and accumulate this stock with an expected upside of Rs 700-730, and with downside support zone of Rs 590 levels.
With last week's down move, the stock has marked a low around Rs 196 levels and rebounded very sharply. This strong momentum was observed from its 200-day SMA (simple moving average) support zone (Rs 195) which remains a very crucial support zone.
The stock has recaptured its 50 and 100-day SMA which signals positive bias. Rising volumes at lower support signals increased participation. On the weekly and monthly chart, the stock is in a strong up trend as it continues to move in a series of higher tops and bottoms.
The daily strength indicator RSI has turned bullish along with positive crossover which supports upside momentum.
Investors should buy, hold and accumulate this stock with an expected upside of Rs 240-260 and with downside support zone of Rs 200-195 levels.
The stock is in a strong up trend forming a series of higher tops and bottom across all the time frames. The stock is well placed above its 20, 50 and 100 day SMA which reconfirms bullish sentiments.
The daily weekly and monthly strength indicator RSI has turned bullish along with positive crossover which supports upside momentum. Past three week's rising volumes signal increased participation.
Investors should buy, hold and accumulate this stock with an expected upside of Rs 160-175 and with downside support zone of Rs 200-195 levels.
The stock is in a strong up trend forming a series of higher tops and bottoms across all the time frames. The stock has recaptured its 20-day SMA (Rs 370) and rebounded sharply. Huge volumes along with price rise signals increased participation.
The daily strength indicator RSI has turned bullish along with positive crossover which supports upside momentum.
Investors should buy, hold and accumulate this stock with an expected upside of Rs 430-450 and with downside support zone of Rs 360 levels.
Since September 2021, the stock is trending down forming a series of lower tops and bottoms indicating short to medium term down trend. The recent sell-off was observed from its 50, 100 and 200 day SMA resistance zone which reconfirms bearish sentiments.
With Friday's close, the stock has decisively broken down its two months crucial support zone of Rs 348 level on a closing basis indicating further weakness. Huge volumes on a breakdown suggests increased selling pressure. The daily strength indicator RSI has turned bearish along with negative crossover which supports downside momentum.
Investors should use opportunity to sell or exit on any bounce towards Rs 350-370, and with downside of Rs 320-300 levels.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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