Stocks like Adani Total Gas rose more than 18 percent, Bank of India was locked in the upper circuit of 20 percent, and Adani Transmission closed with gains of over 12 percent were some of the stocks in focus.
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var titStr=”;var editw=”; var typevar=”; var pparr= new Array(‘Monitoring your investments regularly is important.’,’Add your transaction details to monitor your stock`s performance.’,’You can also track your Transaction History and Capital Gains.’); var phead =’Why add to Portfolio?’; if(secglbVar ==1) { var stkdtxt=’this stock’; var fltxt=’ it ‘; typevar =’Stock ‘; if(lastRsrs.length>1){ stkdtxt=’these stocks’; typevar =’Stocks ‘;fltxt=’ them ‘; } } //var popretStr =lvPOPRHS(phead,pparr); //$ (‘#poprhsAdd’).html(popretStr); //$ (‘.btmbgnwr’).show(); var tickTxt =’‘; if(typparam1==1) { var modalContent = ‘Watchlist has been updated successfully.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //var existsFlag=$ .inArray(‘added’,newappndStr[1]); //$ (‘#toptitleTXT’).html(tickTxt+typevar+’ to your watchlist’); //if(existsFlag == -1) //{ // if(lastRsrs.length > 1) // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exist in your watchlist’); // else // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exists in your watchlist’); // //} } //$ (‘.accdiv’).html(”); //$ (‘.accdiv’).html(appndStr); } }, //complete:function(d){ // if(typparam1==1) // { // watchlist_popup(‘open’); // } //} }); }); } else { var disNam =’stock’; if($ (‘#impact_option’).html()==’STOCKS’) disNam =’stock’; if($ (‘#impact_option’).html()==’MUTUAL FUNDS’) disNam =’mutual fund’; if($ (‘#impact_option’).html()==’COMMODITIES’) disNam =’commodity’; alert(‘Please select at least one ‘+disNam); } } else { AFTERLOGINCALLBACK = ‘overlayPopup(‘+e+’, ‘+t+’, ‘+n+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function pcSavePort(param,call_pg,dispId) { var adtxt=”; if(readCookie(‘nnmc’)){ if(call_pg == “2”) { pass_sec = 2; } else { pass_sec = 1; } var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’; $ .ajax({url:url, type:”POST”, //data:{q_f:3,wSec:1,dispid:$ (‘input[name=sc_dispid_port]’).val()}, data:{q_f:3,wSec:pass_sec,dispid:dispId}, dataType:”json”, success:function(d) { //var accStr= ”; //$ .each(d.ac,function(i,v) //{ // accStr+=”+v.nm+”; //}); $ .each(d.data,function(i,v) { if(v.flg == ‘0’) { var modalContent = ‘Scheme added to your portfolio.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //$ (‘#acc_sel_port’).html(accStr); //$ (‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’); //$ (‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false); // //if(call_pg == “2”) //{ // adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //else //{ // adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //$ (‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′); //$ (‘#mcpcp_addprof_info’).html(adtxt); //$ (‘#mcpcp_addprof_info’).show(); 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Indian market snapped three days of winning streak on February 16 as investors preferred to book profits as benchmark indices hit fresh record highs in intraday trade. The S&P BSE Sensex hit a record high of 52,516 while the Nifty hit a life high of 15,431.
Let’s look at the final tally on D-Street – the S&P BSE Sensex closed 49 points lower at 52,104 while the Nifty50 closed flat at 15,313.
Stocks like Adani Total Gas rose more than 18 percent, Bank of India was locked in the upper circuit of 20 percent, and Adani Transmission closed with gains of over 12 percent were some of the stocks in focus. All three stocks hit their respective 52-week high.
We have collated views of experts on what investors should do with these stocks when the market resumes trading on February 17:
Expert: Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in
Adani Total Gas:
This counter appears to have registered a decisive breakout after a multi-week consolidation in an extremely narrow range. Moreover, this consolidation breakout took this counter into uncharted territories with new lifetime highs.
However, considering the sharp upmove in just two sessions, from the lows of 386 to around 500 levels, profit booking can’t be ruled out going ahead.
Hence, traders are advised to avoid fresh buying unless it corrects into the zone of 460 – 445 levels. In case if the rally continues then based on the long-term trend line studies next hurdle seems to be in the zone of 560 – 570 levels.
Bank of India:
The stock witnessed a strong gap-up opening on massive volumes signalling that this counter might have embarked on a medium-term uptrend. Moreover, with this breakout, this scrip seems to have decisively closed way above its critical resistance point placed around 59.
Hence, traders are advised to adopt a two-pronged strategy of buying now and adding on dips if any into the zone of 63 – 60 levels and look for an eventual target placed around 77 levels. A stop-loss suggested for the trade will be a close below 59.
Adani Transmission:
This counter registered a channel breakout, last week, on the weekly charts which have opened up a target of 756. Interestingly, this target is more or less achieved in the last session itself with an intraday high of 750 in just two days of the said breakout.
Hence, if the rally sustains beyond 750 levels the upswing shall continue towards the 800 mark. However, considering the sharp up move of the last 4 trading sessions from the lows of 559 this counter shall ideally witness profit booking in the next one or two trading sessions.
Fresh buying should be considered only on correction and consolidation around 700 levels with a stop below 689 on a closing basis.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
