Big Movers on D-Street: What should investors do with Infosys, Indiamart and JSW Steel?

economictimes.indiatimes.com:

Stocks that were in focus include names like Infosys, which fell nearly 8%, Indiamart, which rose 8.31%, and JSW Steel, whose shares declined 1.37% 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:Infosys: AvoidThe counter is in a downward trend and from the last trading session it has broken a demand level at around Rs 1350 and also given a closing below the same level. The overall structure is distorted as it trades below its all-important moving averages, however, it has a next demand zone near 1300-1280. On the upside, 1350 is an immediate susceptible area.

Above this, we can expect a run-up towards 1400+ levels in the near term.Indiamart: Buy for long termThe counter has experienced a breakout of the triangle formation with strong volume on the daily chart. It retested its breakout levels at around Rs 2600 and started a new leg of the rally towards 3400+. The overall structure of the counter looks lucrative, as it is trading above all its important moving averages.

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 3400 is an immediate hurdle; above this, we can expect a move towards Rs 3600+. On the downside, Rs 2600 is a strong demand zone during any correction.JSW Steel: BuyThe counter has witnessed a breakout of a symmetrical triangle formation on the daily chart.

However, it has provided a meaningful correction to retest the previous breakout level of 690 after making a 52-week high. The counter is trading above its important moving averages. On the higher