Big movers on D-Street: What should investors do with Ujjivan SFB, Kalyan Jewellers and PB Fintech?
Sensex climbed 364 to settle at 65,995 and the broader Nifty advanced 107 points to end at 19,653.
Here's what Pravesh Gour, Senior Technical Analyst at Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today.
Ujjivan SFB
The counter has experienced a notable breakout after consolidating for a prolonged period of two months, accompanied by robust trading volume, as observed on the weekly timeframe. The overall chart pattern presents an appealing opportunity, characterized by its consistent trading above key moving averages.
Furthermore, the technical indicators, such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), are in alignment with the current momentum of the stock, thereby providing additional confirmation of its strength.
Looking ahead, the resistance level at 65 appears to be a pivotal point to monitor.
A breach above this level could set the stage for a near-term target of Rs. 70 or even higher.
To manage risk effectively, consider implementing a stop-loss strategy at Rs. 52 to safeguard your investment.
Kalyan Jewellers
The counter has witnessed a breakout of a triangle pattern formation as well as a breakout of a bullish inverse head and shoulder pattern with huge volume on the daily chart.
The overall structure of the counter is very lucrative, as it is trading above all its important moving averages.
On the upper side, Rs. 262 is an immediate resistance; above this, we can expect a big move till 280/300+ in the shorter time frame, while on the downside, Rs.
