Big movers on D-Street: What should investors do with HDFC Bank, Zomato and CAMS?

economictimes.indiatimes.com:

Stocks that were in focus included names like HDFC Bank, which fell 1.31%, Zomato, which declined 1.63%, and CAMS, whose shares rose 2.1% on Friday.

Here's what Santosh Meena, Head of Research at Swastika Investmart, StoxBox, recommends investors should do with these stocks when the market resumes trading today.

HDFC Bank

The stock has witnessed a breakout of an inverse head-and-shoulders formation on the daily chart with strong volume. But on 200-DMA at around Rs 1555 levels, it is facing some resistance and profit booking from those levels. The structure of the counter looks lucrative, as it is trading above all its important moving averages.

The momentum indicators are also positively placed. On the downside, Rs 1500 is the important psychological support level; below this, we can expect the 1480 level, while on the upside, Rs 1560 is the resistance level, above which we can expect the 1640+ level.

Zomato

The stock is forming a pattern of higher highs and higher lows on a daily basis, which suggests a promising trend. Additionally, the counter is now trading near its all-time high of 199, which is likely to act as a resistance level. Currently, it is trading at 192. If the trend continues, the initial target will be 220.

If it manages to sustain its price above 220, we can expect targets of 250 in the short — -midterm. On the downside, the first support level is around 175, where the 20-day moving average is positioned.

CAMS

The stock has recently broken out of a cup and handle formation on the weekly