Buy, Sell or Hold: What should investors do with PNC Infratech, ICICI Securities and Angel One?

Auto, banking and IT stocks powered domestic equity markets to close on a positive note for the second day in a row as benchmarks closed 1% higher on Thursday. The broader Nifty50 closed just shy of 17,400, while the Sensex added nearly 800 points as index heavyweights too led from the front. 

"Resurgence of investor interest in IT and Banking space along with support from heavyweights and global peers helped in strengthening the market," said Vinod Nair, Head of Research at Geojit Financial Services.  

Meanwhile, Nifty midcap and small cap indices too gained between 1 to 1.5% as markets traded with strength on Thursday 

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Almost all sectoral indices led by Automobiles traded in the Green with the volatility index cooling off.  

Stocks that were in focus on Thursday included PNC Infratech, which closed with gains of over 11%, ICICI Securities that dropped 5% after average results in the March quarter and Angel One, which settled with 18% gain after trading on 52-week high value of Rs 1950 per share on the BSE.  

Here is what Gaurav Ratnaparkhi, Head of Technical Research at Sharekhan by BNP Paribas, recommend investors should do with these stocks when market resumes trading on Friday.  

1.       PNC Infratech 

The stock has seen a short-term base formation over the last few weeks & has broken out on the upside on April 21. The price breakout is being accompanied by strong volumes, which suggests that the stock is likely to sustain at higher levels. Additionally, the short-term momentum indicators are in favour of the bulls. Thus, the stock is expected to head towards the short-term target zone of 300-310 

2.       ICICI Securities 

The stock was witnessing sideways action for the last few sessions, which had taken form of a triangular pattern. It broke down from the pattern on April 21 & went down to test the March low of 579.25. Nevertheless, the bulls rushed in near the low thus leading to a partial recovery. Overall structure suggests short term consolidation in the broad range of 580-630 

3.       Angel One 

The stock has been on an uptrend from short term as well as medium term perspective. The trend got reinforced today with strong volumes. The daily Bollinger Bands have started expansion after a brief contraction. This suggests that the rally is likely to continue further. Going ahead, 2120 will be the subsequent target on the upside 

(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.)