Indian market snapped 7-day losing streak on Friday to close with gains of over 2 per cent. The S&P BSE Sensex rallied more than 1300 points while the Nifty50 closed above 16600 levels.

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Sectorally, metals, realty, power, utilities, and public sector closed in the green. The S&P BSE Smallcap index and the S&P BSE Midcap index closed with gains of over 4 per cent each.

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Stocks that were in focus include PNB which closed with gains of over 9 per cent, NBCC rallied over 13 per cent and Zensar Technologies rose over 7 per cent on Friday.

Here's what Amol Athawale, Deputy Vice President - Technical Research, Kotak Securities Ltd, recommends investors should do with these stocks when the market resumes trading today:

PNB: Hold

On February 25th after a sharp selloff, the stock bounced back sharply and rallied over 10 per cent. However, this month so far, it is corrected by over 20 per cent.

From the last couple of weeks, the stock is consistently trading below the 200-Day SMA and on the daily charts.

The short-term structure is still on the downside and 38 and 40 would be the immediate resistance area for the Punjab National Bank. On the flip side, 33.50 would be the immediate support level.  

A fresh round of sell-off is not ruled out if the stock succeeds to close below 33.50. A close below this level could hit the level of 32-30.

NBCC: Avoid

The stock is consistently facing selling pressure at higher levels. NBCC has corrected by over 20 per cent so far in February.

The important thing is that on the daily and intraday charts the stock has been consistently forming lower top series formation which is broadly negative for the medium term.

However, due to a temporary oversold situation, it reversed sharply and rallied over 10 per cent. We are of the view that, the medium-term structure is still on the downside, but the pullback rally is likely to continue if it succeeds to trade above 36-37 level.

On the higher side, 40 and 42 would be the immediate hurdle areas for the bulls. on the other side, below 36 the short-term uptrend would be vulnerable.

Zensar Technologies: Buy on dips

From the last couple of months, it is consistently witnessing profit booking at higher levels. In the current quarter, it has corrected over 35 per cent.

In addition, Zensar Technologies Ltd. is comfortably trading below 200-Day and short-term averages which is broadly negative.

However, momentum indicators indicate that the stock is in an oversold zone and there are high chances of a quick short-term pullback rally is not ruled out if the stock trades above 350.

For the next few trading session, 350-340 would be the trend decider level for the bulls, sustain above the same we can expect the continuation of uptrend up to 370.

Further uptrend may also continue which could lift the stock up to 390. On the flip side, dismissal of 320 may trigger further weakness till 300-290.

(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.)