Indian markets closed the week ended November 12 with gains of over 1 per cent. The S&P BSE Sensex rallied more than 700 points on Friday, while the Nifty50 reclaimed 18,100 levels.

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Sectorally, buying was seen IT, telecom, power stocks, capital goods, energy, and FMCG stocks.

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Stocks that were in focus include Sheela Foam that closed with gains of nearly 14 per cent and IDFC closed with gains of over 10 per cent.

Here's what Vishal Wagh, Research Head, Bonanza Portfolio, recommends investors should do with these stocks when the market resumes trading today:

Sheela Foam: Buy

The stock has given an 'Ascending Triangle' breakout on the daily charts. It is said to be a bullish formation. The stock is trading well above all its major moving averages.

Looking at the price movement, the stock has already given a huge breakout and a decent entry can be seen on throwback.  

The stock has been consolidating since July onwards and the price can be seen hovering near the 20-Day EMA, which will be an important level going ahead with the trend.

On the indicator front, ADX has given the confirmation of the strength of the trend along with good volumes. The Relative Strength Index (RSI) is seen near overbought levels, hence some amount of profit booking cannot be ignored for this stock.

IDFC: Accumulate

The stock is seen with an 'Inverse Head and Shoulders' pattern breakout on the daily charts. This is a classic bullish formation. Currently, it is trading near its neckline and a convincing move above the resistance line will confirm the breakout.

The target for such a pattern is the distance from its head to the neckline. The stock was in an accumulation zone since July and is all set to break free for higher levels.

On the indicator front, ADX has given the confirmation of the strength of the trend by giving an uptick and is likely to continue in upcoming trading sessions. The stock is trading well above the 20-day EMA which is placed near 56. This can be witnessed in volumes also which is above average as compared to trading volumes in the last 4 months.  

(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.)