Indian markets closed with gains of about 2 per cent for the week ended 10th December. The S&P BSE Sensex is back above 58000, while the Nifty50 closed above 17500 levels.

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The S&P BSE Sensex and Nifty50 closed flat with a negative bias on Friday.  

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The stocks that were in focus include Siemens closed with gains of over 7 per cent, Thermax closed with gains of over 5 per cent and Bajaj Electricals rose over 7 per cent on Friday.

Here's what Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd, recommends investors should do with these stocks when the market resumes trading today:

Siemens: Buy

The stock has rallied nearly 8 per cent on 10th December. Last Friday, the stock opened with a strong note and quickly surpassed resistance of 2350 with strong volume activity.

Post breakout it maintained the uptrend momentum throughout the day, which is grossly positive. In the short-term time frame, the stock has formed a strong price volume breakout pattern.

The texture of the pattern suggests that the breakout action will continue in the near term if the stock succeeds to trade above the 2350 level.

For swing traders, a level of 2350 could be the sacrosanct level, and if the stock trades above the same then we can expect the uptrend to continue up to 2550-2625 levels.

Thermax: Buy

The stock has rallied by nearly 10 percent so far in December. After a short-term correction, the stock took the support near 20-Days SMA and reversed sharply.

On the weekly charts, it has formed a strong bullish candle which supports further uptrend from current levels.  

In addition, on the daily chart, the stock has formed a bullish continuation formation that also supports a short-term uptrend.  

For the trend following traders, 1700 could be the key level to watch if the stock manages to trade above the same then we can expect an uptrend continuation wave up to 1950-2050.

Bajaj Electricals: 1090 would act as a trend decider level

From the level of 1588, the stock has witnessed a medium-term price correction. The stock corrected over 35 per cent from the level of 1588.

After a long correction, it took support near 1000 and reversed sharply. Momentum indicators and reversal formation indicate a strong possibility of a fresh uptrend if it succeeds to trade above 1090 or 200-day SMA.  

For the positional traders, 1090 would act as a trend decider level. Above the same, the uptrend structure will continue up to 1200-1265.

(Disclaimer: The views/suggestions/advice expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)