Buy, Sell or Hold: What should investors do with ITI, Sequent Scientific and Aptus Value Housing Finance?

Stocks to watch: Extending rally for the second day, the Indian market gained more than half per cent in the opening trade on Monday. After opening at 16,151.40, the Nifty50 was seen attempting 16,200 as it touched the day's high of 16,199.70 in early intraday trade on Monday. Likewise, the Sensex opened at 54,069.30 and gained over 400 points on its previous closing to trade at 54,246.76 in the early trade.  

The support also came from the broader market, where Nifty Midcap and SmallCap rose nearly one per cent each, while all sectoral indices rallied to open in the green on Monday.  

Meanwhile, certain stocks came in focus on Friday. These stocks are those which moved on either side based on news development and corporate actions on Friday. These stocks were ITI, Sequent Scientific and Aptus Value Housing Finance. ITI was trading lower by around two per cent, Sequent Scientific gained three per cent and Aptus Value Housing Finance gained around one per cent in Monday's intraday trade on the BSE. 

Here is what Amol Athawale, Deputy Vice President - Technical Research, Kotak Securities Ltd, suggests one should do with these stocks.  

ITI: 

In this last week, the stock has rallied over 20 percent.  On the short-term time frame, the counter has formed a strong price volume breakout pattern. The texture of the pattern suggests breakout action will continue in the near term if stock succeeds to trade above 112 level. For the trend following traders 112 would be the key level, trading above the same, we can expect uptrend continuation wave up to 130-135. On the flip side, below 112 uptrends would be vulnerable.   

Sequent Scientific: 

After a long correction, eventually the stock took the support near 80 and reversed. Post sharp reversal, the stock is holding higher bottom formation. On last Friday, the stock rallied over 7 percent and it also formed a long bullish candle on daily charts. In addition, after a long time it succeeded in trading above 50-day SMA, a promising price volume activity near 50-day SMA (Simple Moving Average), indicating a further uptrend from the current levels.  For the trend following traders 104 would be the sacrosanct level, trading above the same we can expect uptrend continuation wave till 120-125. 

Aptus Value Housing Finance: 

After a promising pullback rally, the stock is hovering within the range of 265 to 290. The short-term texture of the stock is non directional, perhaps, traders are waiting for either side breakout. For the bulls, 290 or 50-day SMA would be the important breakout level to watch. And if the stock manages to trade above the same, we can expect a fresh uptrend rally towards 300-310 On the flip side, trading below 265, may increase further weakness up to 250-245. 

(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.)