The Indian markets closed in the red for the third consecutive day in a row on Thursday, following muted trend seen in other Asian markets. The S&P BSE Sensex closed below 60,000, while the Nifty50 gave up 18000.

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Sectorally, buying was seen in consumer durables, power, metal, and utilities, while selling pressure was seen in realty, public sector, healthcare, and banks.

Stocks that were in focus include Narayana Hrudayalaya that closed with gains of over 4 per cent, Timken closed with gains of nearly 10 per cent, and Crisil rose over 9 per cent.

Here's what Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in, recommends investors should do with these stocks when the market resumes trading today:

Narayana Hrudayalaya: Avoid fresh longs

Despite new lifetime highs this counter appears to be facing selling pressure at higher levels as indicated by long upper shadows of the last two trading sessions.

Hence, in couple of trading sessions if this counter sustains above 562 level, then eventually an initial target of 623 levels can be expected and beyond that a higher target of 670 can’t be ruled out.

However, below 575 more profit booking may emerge by dragging this counter towards 540 levels.

Therefore, for time being fresh buying should be avoided, whereas positional traders who are holding this counter should place a stop below 562 levels.  

Timken: Buy

This counter seems to have registered a consolidation breakout as it emerged out of its large trading range present between the 1900-1620 levels.

Hence, sustaining above the 1866 levels a higher target, based on the width of the trading range, of around 2200 can be projected.

As volumes in the last session were relatively higher, traders can adopt a two-pronged strategy of buying now and adding further on dip preferably towards 1900 should be considered for a target of close to 2200. But stop loss remains below 1866 levels.    

Crisil: Buy on dips

Albeit this counter witnessed some profit booking from intraday high of 3225 levels after testing the upper boundary of the 56-Day old channel, it appears to be heading for a breakout as hinted by the decent price appreciation of last session on the back of relatively much higher volumes.

Hence, sustaining above 2928 levels this counter can initially head to test its lifetime highs present around 3330 levels and beyond that a higher target, based on channel breakout, of 3622 can’t be ruled out.

Therefore, for the time being dips looks like an attractive proposition to buy with a stop below 2928 levels for an initial target of 3330 levels.

(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.)