Big Movers on D-Street: What should investors do with JBM Auto, Angel One and Federal Bank?

economictimes.indiatimes.com:

Stocks that were in focus include names like JBM Auto, which rose 11.13%, Angel One, which lost 2.14% and Federal Bank, whose shares gained 2% 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:JBM Auto — Buy on Dips The counter is in a classical upward directional pattern, and in the last trading session, it witnessed a breakout of a flag formation but did not sustain at the higher levels. The structure of the counter is good, but it has already given a massive rally from the low of Rs 361 to the high of Rs 1539. Its present risk-reward ratio is not in favour of long-term investors.

So wait for any dip before taking a position. MACD (moving average convergence divergence) is supporting the current strength, whereas the momentum indicator RSI (relative strength index) is also positively poised. On the upside, Rs 1550 is an immediate hurdle; above this, we can expect a move towards Rs 1600+.

On the downside, Rs 1100–1200 is a strong demand zone during any correction.Angel One: BuyThe counter has witnessed a breakout from a triangle formation on the longer timeframe and started a new leg of the rally towards Rs 1800. The overall structure of the counter looks lucrative, as it is trading above all its important moving averages. However, the counter is facing resistance at around Rs 1800 levels; if it breaks these levels, we can expect a target of Rs 2000+ in the short to long term.