Stocks that were in focus include names like RailTel, which rose 5.81%, TVS Motor, which jumped 2.19%, and IREDA, whose shares gained nearly 1% on Friday.
Here's what Pravesh Gour, Senior Technical Analyst at Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today.
The Counter has witnessed a breakout of a long consolidation above 450 levels with strong volume and hit their all time high level 617.
But from the higher levels the counter has shown some profit booking and retested its last breakout level at 450 and starts a new leg towards 550 levels in the near term. The overall structure is very bullish as it trades above its all-important moving averages.
The pattern suggests an immediate target of Rs 550, while it has the potential to move further upside till 1600 levels. On the downside, Rs 430 will act as an immediate support level.
MACD (Moving average convergence divergence) are supporting the current strength whereas momentum indicator RSI (relative strength index) is also positively poised.
It is forming higher highs and higher lows formations and also witnessed a breakout of a long consolidation and closed above 2700 on the longer timeframe with strong volume.
The overall structure of the counter also looks lucrative for long-term investment, as it is trading above its all important moving averages.
However, momentum indicators such as the RSI (Relative Strength Index) and MACD (Moving Average Convergence Divergence) are