Indian market plunged on Monday with BSE Sensex and Nifty50 falling over 2.5 per cent each amid a continuous surge in the crude oil prices as well as rising geopolitical concerns. The S&P BSE Sensex plunged nearly 1500 points while the Nifty50 closed below 15900 levels.

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Sectoral selling pressure was seen in realty, banks, auto, and capital goods while some buying was seen in metals, telecom as well as oil & gas.

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Stocks that were in focus include ONGC which closed with gains of over 13 per cent, GMDC also rose over 3 per cent and Indigo Paints pared plunged nearly 9 per cent on Monday.

Here's what Jatin Gohil, Technical Analyst at Reliance Securities, recommends investors should do with these stoc

ONGC: Recommendation: Buy on dips | Target: Rs230 | Time Duration: 1-2 Months

On 7 March 2022, the stock managed to surpass its medium-term supply zone, which was placed around Rs 175-180 and rose to a new 52-week high of Rs189.80.

Its major moving averages are sloping upwards on medium-term timeframe charts, while its key technical indicators are positively poised.

This could lead the stock towards Rs210 initially and Rs230 subsequently.

In case of decline, its 20-week EMA will continue to work as a strong reversal point, which is placed at Rs158.

GMDC: Recommendation: Buy on dips | Target: Rs260 | Time Duration: 3-4 Months

Since December 2021, the stock witnessed an exponential rise, as it jumped from Rs 65 and rose to Rs 173.

The stock is near its long-term supply zone, which is placed around Rs 180-187.

The key technical indicators are positively poised but stuck around their overbought zone.

Hence, higher level profit booking cannot be ruled out before a fresh up-move starts.

Profit booking could drag the stock towards the Rs 145-125 zone, which will provide better risk-reward for a fresh long trade.

However, a stable move above that supply zone (Rs180-187) could lead the stock towards Rs222 initially and Rs260 subsequently.

Indigo Paints: Recommendation: Sell on rise | Target: Rs 1,080 | Time Duration: 1-2 Months

After a stellar listing, the stock witnessed profit booking and despite a consolidation, failed to resume its up-move.

Since August 2021, the stock ended the month on a negative note and so far reported a fall of 70%.

Its major technical indicators tested their oversold zone on short-term as well as medium-term timeframe charts.

Hence, a pullback cannot be ruled out before its southward journey resumes.

A pullback could take the stock towards Rs1,800 and Rs1,900, which will provide a better risk-reward for a fresh short trade.

In case selling pressure intensifies, this could drag the stock towards Rs1,330 initially and Rs1,080 subsequently.

(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.)