Big Movers on D-Street: What should investors do with TCS, PB Fintech & Kalyan Jewellers?
The Nifty 50 moved past the 19700-mark and ended at 19765.20 points and the Sensex settled at 65982.48 points.
Among the major movers in the market were index major Tata Consultancy Services, PB Fintech, and Kalyan Jewellers India.
PB Fintech shares hit a one-month high intraday and ended more than 2% higher in trade.
Riyank Arora, technical analyst, Mehta Equities advises how to trade in the above mentioned stocks when trading resumes on Friday:
TCS
The stock has shown a strong bullish closing above its crucial resistance mark of Rs 3,470. With the overall trend being positive and the entire IT sector performing well, TCS should likely move towards Rs 3,585-3,605 in the coming weeks. The trend is expected to remain positive, with immediate support at Rs 3,435.
PB Fintech
The stock has experienced a good breakout above the Rs 780 mark in Thursday’s session.
With the overall trend being positive, the stock should likely head towards Rs 810-820, with immediate support near Rs 770. The trend looks positive, supported by strong momentum and increasing volumes.
Kalyan Jewellers
The stock has touched a minor support level between Rs 305-307.50 on daily charts. The overall trend looks positive, with minor support near the Rs 305 mark and pull-back resistance near Rs 330-350 levels.
However, a break below Rs 305 could push the stock further down towards Rs 285-275; the likelihood of that happening, however, looks very slim.
Torrent Pharma
The stock has reached a crucial resistance zone of Rs 2,075-2,095 on daily charts. With the overall risk-reward being favorable on the short side and the anchor-VWAP, indicating support near the Rs 1,975 mark, we can expect the stock to drift towards Rs 1,975-1950 levels. This view
