The S&P BSE Largecap was up 0.95 percent, while S&P BSE Midcap index and Smallcap Index were down 0.28 percent and 0.36 percent, respectively.
There was a lot of stock specific action in the small, mid and largecaps which kept traders busy in last week.
The stock can be bought at current level and on dips towards Rs 246 with a stop loss below Rs 237 and a target of Rs 300 levels, says Ashish Chaturmohta of Sanctum Wealth Management.
After touching a new high of 10,835 on Monday for the current rally, the index formed a doji candlestick pattern for the day, indicating indecisiveness in the market.
"At lower levels, the stock found support at previous lows and rallied back to its highs. The ADX line has been moving higher above neutral level of 20 which indicates strength in the uptrend," says Ashish Chaturmohta, Head Technical and Derivatives at Sanctum Wealth Management.
"The immediate resistance is seen at 10,850 levels. On the downside, the immediate support for the index is seen at 10,690 levels. Breaking below this level, the index may test 10,614 levels," says Ashish Chaturmohta, Head Technical and Derivatives at Sanctum Wealth Management.
The midcap index was the outperforming sector in the early hours of trade led by Biocon, Bharat Financial Inclusion, JSW Energy and Hindustan Zinc while Bharti Infratel followed by Hindalco Industries and Sun Pharmaceutical Industries were the top gainers.
Vishal Malkan of malkansview.com advises selling Power Finance Corporation with target of Rs 115.
Avinnash Gorakssakar, Market Expert is of the view that one may hold Intellect Design Arena.
Prakash Gaba of prakashgaba.com advises buying Intellect Design Arena.
Rajesh Agarwal of AUM Capital is of the view that one can hold Intellect Design Arena and buy on dips.
But, it is time to tread with caution with respect to small and midcap stocks after a sharp rally in the last 12-24 months. Not all midcap stocks might strike gold for investors at current levels given the frothy valuation.
Ashwani Gujral of ashwanigujral.com suggests buying Intellect Design Arena, Tata Global and Can Fin Home.
Prakash Gaba of prakashgaba.com advises holding Intellect Design Arena.
Prakash Gaba of prakashgaba.com feels that Intellect Design Arena may move to Rs 240.
CA Rudramurthy BV of Vachana Investments recommends buying Intellect Design Arena, Balrampur Chini Mills and VIP Industries.
CA Rudramurthy BV of Vachana Investments is of the view that one can buy Intellect Design and DLF and likes Federal Bank.
According to Prakash Gaba of prakashgaba.com, one can go long in Shriram Transport and Intellect Design and feels that JSW Steel may test Rs 1350.
Sarvendra Srivastava of phisense.com is of the view that one may buy Gabrial India with a target of Rs 96.9.
Sharmila Joshi of sharmilajoshi.com advises buying Biocon with a target of Rs 489.
Manas Jaiswal of manasjaiswal.com recommends buying Bajaj Hindusthan with a target of Rs 20 and City Union Bank with a target of Rs 97.50.
Rahul Jain, vice president, Systematix shares and stocks, says due to attractive valuations at current price level, he is quite positive on the TCS stock and has a buy rating on it with a target price of Rs 2850 per share
Mehraboon Irani of Nirmal Bang Securities is of the view that one may look at Intellect Design.
CA Rudramurthy of Vachana Investments is of the view that one may enter Intellect Designs with a target of more than Rs 300.
Dharmesh Kant of India Nivesh Securities advises buying Canara Bank with a target of Rs 310.