Indian market plunged nearly 5 per cent in a single trading session on Thursday after Russian forces invaded Ukraine. The S&P BSE Sensex fell more than 2700 points while the Nifty50 closed below 16300.

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Sectoral selling pressure was seen in realty, telecom, auto and utilities. The S&P BSE Small-cap index fell 5.7 per cent, and the S&P BSE Mid-cap index was down 5.5 per cent on Thursday.

Stocks that were in focus include Indiabulls Housing Finance which closed 9 per cent lower, Apollo Tyres Ltd fell more than 11 per cent, and Amara Raja Batteries closed with losses of over 10 per cent on Thursday.

Here's what Mazhar Mohammad, Chief Strategist – Technical Research and Trading Advisory, Chartviewindia.in, recommends investors should do with these stocks when the market resumes trading today:

Indiabulls Housing Finance: Avoid

Having underperformed in this bull market, this counter seems to be in a downtrend of its own from the highs of 381 registered in June 2021.

On the way down, it has breached all the critical supports and the last hope is placed around 127.

In case it breaches and settles below 127 for a couple of sessions then it may trade in two digits sooner than later. Therefore, at this point in time, it is an avoid.  

Apollo Tyres: Avoid buying the dip

This counter seems to have registered a consolidation breakdown after moving in a range of 260 – 198 levels.

Therefore, unless it recoils and sustains above 200 levels the trajectory of this counter shall be on the downside. In such a scenario, a sharp slide towards 150 levels cannot be ruled out.

Traders should avoid buying the dip unless some signs of stability and strength are visible.

Amara Raja Batteries: Avoid fresh buying

This counter has given up around 50% of the gains from its intermediate top of 1025 levels registered in January 2021.

Hence, unless it registers a close above 573 levels it can further extend its weakness towards 480 levels which seems to be a crucial support.

In case if there are any stuck up positions, they should be squared off on pullback attempts. No fresh buying should be considered around these levels.  

(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.)