The market remained shoreled for the third consecutive session with continuously monitoring developments related to geopolitical tensions between Ukraine and Russia, and finally ended lower on February 18, the last trading day of the week.
Sensex BSE fell 59 points to 57,833, and Nifty50 decreased 28 points to 17,276, while the broader market performed poorly with good benchmarks with each percentage of one percent.
The focus shares include Indian cement which is the largest enhancer in the futures segment and option, up 3.53 percent to RS 212.45, Quess Corp that rose 8.1 percent to RS 648.25, Eligi equipment which rose 4.88 percent At Rs 393.60 and special restaurants that jumped 7.37 percent to Rs 146.50.
However, the cement ambuja was the top loser in the futures segment and option, fell 6 percent to RS 338.35.
This is what Rajesh Palviya from Axis Securities recommends investors to be done with this stock when the market continues today’s trade:
The market remained shoreled for the third consecutive session with continuously monitoring developments related to geopolitical tensions between Ukraine and Russia, and finally ended lower on February 18, the last trading day of the week.
Sensex BSE fell 59 points to 57,833, and Nifty50 decreased 28 points to 17,276, while the broader market performed poorly with good benchmarks with each percentage of one percent.
The focus shares include Indian cement which is the largest enhancer in the futures segment and option, up 3.53 percent to RS 212.45, Quess Corp that rose 8.1 percent to RS 648.25, Eligi equipment which rose 4.88 percent At Rs 393.60 and special restaurants that jumped 7.37 percent to Rs 146.50.
However, the cement ambuja was the top loser in the futures segment and option, fell 6 percent to RS 338.35.
This is what Rajesh Palviya from Axis Securities recommends investors to be done with this stock when the market continues today’s trade:
Quess Corp.
In a few months the last fall, the stock lost nearly 20-25 percent of high swing recently. However, the sharp rebound last week from the RS 558 level indicates a strong purchase at a lower level. This weekly price action has also formed a Candlestick hammer – a short-term trend reversal pattern. Therefore every follow-up, the positive closed above RS 656 can confirm the pattern above.
The highest volume at the lower level signal increases participation. The daily strength indicator of the RSI (relative strength index) has changed bullish along with positive crossover that supports reverse momentum.
Investors must buy, hold and accumulate this stock with the expected reverse from Rs 700-730, and with the downside support zone from the RS 590 level.
