Stocks that were in focus included names like IRCTC, which rose 12%, Siemens, which fell 1.7%, and Nalco, whose shares jumped 4.7% on Monday.
Here’s what Avdhut Bagkar, Derivatives & Technical Analyst at Stoxbox, recommends investors should do with these stocks when the market resumes trading today.
IRCTC
Shares of Indian Railway Catering And Tourism Corporation have knocked a new 52-week high on Monday, with volumes presenting resilient strength.
The trend remains highly optimistic, as the price action suggests a positive rally towards the 1000 mark. Until the support of 750 is defended, the underlying bias is anticipated to favour bulls.
Siemens
A positive move over 4000 levels has seen aggravated volumes, indicating a shift in trend. The breakout has natured the sideways trend transpired lately in the last 10 sessions.
Consecutive close over 4000 mark shall trigger next upside towards 4400 level. While the strength indicator, Relative Strength Indicator (RSI) trades in the overbought category, the price action remains ferocious.
Nalco
The stock has seen significant gains in the last few sessions, accompanied by gap-up close, signalling healthy underlying momentum.
The breakout over 105, its prior hurdle mark, has sparked the current up move. The price action is headed towards 125 and 135 levels, as per the daily chart.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)