It was a bloodbath on D-Street as bears took control and pushed benchmark indices below crucial support levels. The S&P BSE Sensex fell more than 1700 points while the Nifty50 failed to hold on to 17000 levels.

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Sectoral selling pressure was seen in realty, metals, banks, finance, and telecom stocks. The S&P BSE Mid-cap index and the S&P BSE Small-cap indices were down 3-4 per cent respectively.

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Stocks that were in focus include Tata Power that closed with losses of over 5 per cent, HDFC Ltd fell over 5 per cent and HDFC Life hit a fresh 52-week low and closed with losses of more than 6 per cent on Monday.  

Here's what Jatin Gohil, Technical Analyst at Reliance Securities, recommends investors should do with these stocks when the market resumes trading today:

Tata Power: Recommendation: Buy on dips | Target: Rs 260

After a sharp up-move took place between late-September 2021 and mid-October 2021 (i.e. from Rs131 to Rs 268), it oscillated in the wide range (Rs 255-205).

On 14 February 2022, the stock tested its long-term moving average 100-day SMA and erased partial intraday loss before closing the session.

Its daily RSI is negatively poised and tested the bull market support zone (40-33). In late-December 2021, its daily RSI (Relative Strength Index)reversed after testing the bull market support zone and supported a healthy rebound in the stock.

We believe history repeats itself and the stock will rebound after a near-term decline. On the lower side, the stock will find support around its psychological level Rs 200.

However, a stable move above its upper band of the range (Rs 255) will help it test its lifetime-high initially and explore uncharted territory subsequently.

HDFC Ltd: Recommendation: Sell on rise | Target: Rs 2,110

On 14 February 2022, the stock violated its medium-term support zone (Rs 2,380-2,354) and slipped to a 52-week low of Rs 2,290.

The key technical indicators are negatively poised on short-term and medium-term timeframe charts.

This could drag the stock towards Rs 2,190-2,155-2,110 in the medium-term. On the higher side, the stock will face hurdle around the Rs 2,450-2,500 zone.

HDFC Life: Recommendation: Buy on dips | Target: Rs 650

Continuing its prior falling trend the stock tested its medium-term support zone, which was placed around Rs 550.

Short-term major moving averages are sloping downwards on the medium-term timeframe chart, while long-term moving averages are sloping upwards.

Its medium-term technical indicators are negatively poised and tested dip oversold zone.

We believe the stock will rebound after a short-term decline. This could lead the stock towards Rs620 initially and Rs650 subsequently.

On the lower side, the stock will find support around Rs530-510 zone.

(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.)