Indian market closed in the red on Friday for the third consecutive day in a row weighed down by muted global cues. The Nifty50 failed to hold on to 17300 levels.

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Sectorally, buying was seen in capital goods, banks while selling was seen in realty, oil & gas, healthcare, energy, and telecom stocks.

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Stocks that were in focus include Coal India which closed with gains of over 2 per cent, Quess Corp rallied over 8 per cent and India Cements rose over 3 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:

Coal India: Hold

On the daily charts, the stock is holding a higher bottom formation but from the last couple of weeks, the stock is hovering in the range of 160 to 170.

Currently, the stock is witnessing a non-directional activity. It looks like traders are waiting for an either side breakout.

A fresh technical breakout is possible if the stock closed above 170 levels.  And if the stock manages to close above the same then we can expect a quick uptrend move towards 175-177.

On the flip side, if the stock trades below 163 or 20-Day SMA, the weakness may extend towards 158.

Quess Corp: Avoid

After a sharp correction, the stock took the support near 575. In this quarter so far, the stock corrected over 25 per cent. The stock is now witnessing a promising pullback rally.

From the lowest level of 575, it has recovered over 13 per cent. The incremental volume activity and reversal formation indicates a further uptrend.  

We are of the view that the medium-term trend is still weak, but in the short run, pull-back-formation is likely to continue, if it succeeds to trade above 620.

On the higher side, 680 and 690 would act as an immediate hurdle for the traders.

India Cement: Buy

After a medium-term price correction, the stock took support near 200-Day SMA. The promising reversal formation near 200-Day SMA indicates a short-term uptrend.

On Friday, despite tepid market conditions, India Cement Ltd maintained positive momentum and rallied over 4 per cent.

The short-term texture is bullish, and the trend decider level is 200-202. A close above the same could take the stock towards 225-230.

(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.)