The Indian market ended higher by nearly one per cent on Friday as it extended gains for the second consecutive day amid positive global cues. The broader Nifty50 gained around 0.9% to end near 15,700, while the Sensex surged over 450 points to close around 52,700. The Indian market ended the week with over two and half per cent gains as benchmarks Nifty50 and Sensex gained 2.7% each in the week ended on June 24. In the week gone by, the market has ended on a positive note on four occasions and witnessed a cut only on one occasion, on June 22.  

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Outperforming benchmark indices, Nifty midcap and small cap ended higher by 1.3% and 1.7% respectively on Friday.  

Except Nifty IT, which declined around 0.8%, all other Nifty sectoral indices ended in the green on the last trading session of the week. 

"Mirroring a firm trend in the global market and in response to declining commodity prices, the domestic market maintained its positive trend. The up-move was supported by broad-based buying, except in IT, which remained under pressure after Accenture downgraded its earnings forecast," said Vinod Nair, Head of Research at Geojit Financial Services. 

We expect the market to showcase similar short-term rebounds until a fresh trigger fuels the global concerns, he added.  

Meanwhile, certain stocks came in focus on Friday. These stocks were Solara Active Pharma Sciences, star health and Vakrangee. On Friday, Solara Active Pharma Sciences closed with over 10% gains, Star Health declined by more than five per cent and Vakrangee added more than eight per cent.  

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

Solara Active Pharma Sciences 

After a long correction, the stock took the support near 325 and bounced back sharply. On last Friday, it rallied over 14 percent. The promising pullback rally, indicating further upside from the current levels. in addition, on daily charts, it has formed long bullish candle that also support short term uptrend. For the momentum traders, 370-365   would be the key support levels. And, if stock manages to trade above the same, we can expect continuation of uptrend wave up to 410-425. On the flip side, traders may prefer to exit from trading long positions, if it succeed to close below 365. 

Star Health: 

In the past week, the stock has corrected over 14 percent. During the week, the stock broke the important support level of 570 and post breakdown, it intensified the weak momentum. In addition, on weekly and daily charts, the stock has formed long bearish candle that also support further weakness from the current levels.  For the traders, now 570 would be the immediate resistance level. Below the same, the correction wave is likely to continue till 525-515. The short term texture of the stock is extremely volatile hence, traders should remain cautious and be very selective as there is a risk of getting trapped at lower levels. 

Vakrangee 

In this quarter so far, the counter corrected over 25 percent. On daily and weekly charts, it is consistently forming lower top series formation, which is broadly negative for the Vakrangee Ltd. The short-term texture of the stock weak but oversold. We are of the view that continuation of a pullback rally possible, if it succeeds to trade above 20-day SMA or 26. Above which, it could rally till 28-30. On the flip side, below 24 uptrend would be vulnerable.