The market closed decrease on March 15, however managed to maintain the 21,900 stage for the third straight session. Unless the Nifty 50 index decisively breaks down under this stage, rangebound commerce is more likely to proceed available in the market with resistance on the upper facet at 22,200-22,300, specialists stated, including that if the index decisively breaks the assist of 21,900 on the closing foundation, the promoting stress could get prolonged as much as 21,500 mark.

On March 15, the Nifty 50 settled at 22,023, down 123 factors and fashioned small-bodied bearish candlestick sample with higher and decrease shadows on the day by day charts, indicating volatility within the index, whereas the BSE Sensex was down 454 factors at 72,643.

The broader markets ended combined final Friday, because the Nifty Midcap 100 index fell half a p.c and Smallcap 100 index gained 0.4 p.c.

Moneycontrol chosen three shares that outperformed the broader markets – L&T Technology Services, UPL, and Solar Industries. L&T Technology Services ended rally for one more session, rising 3 p.c to Rs 5,419 and fashioned a protracted bullish candlestick sample on the day by day charts regardless of market volatility, with wholesome volumes. The inventory traded effectively above all key shifting averages after latest run up.

UPL additionally rallied for second consecutive session, climbing practically 3 p.c to Rs 475 and fashioned a bullish candlestick sample on the day by day scale with above common volumes. The inventory jumped above 10-day EMA (exponential shifting common) with present rally and moved nearer to 21-day EMA.

Solar Industries, too, behaved similarly, rallying for one more day with robust volumes. The inventory jumped 8.7 p.c to finish at report closing excessive of Rs 8,855 and fashioned lengthy bullish candlestick sample on the day by day timeframe, whereas buying and selling above all key shifting averages.

Here’s what Rajesh Palviya of Axis Securities recommends buyers ought to do with these shares when the market resumes buying and selling right this moment:

L&T Technology Services

On the weekly chart, the inventory is in robust uptrend forming a sequence of upper tops and bottoms indicating sustained uptrend. With the previous five-week’s worth correction, the inventory has retracted its prior uptrend by 38.2 p.c Fibonacci stage (Rs 5,079) and rebounded sharply.

The weekly worth motion has fashioned a “bullish candle” carrying a protracted decrease shadow indicating shopping for assist at decrease ranges. Rising volumes on this rally signifies elevated participation.

Investors should purchase, maintain and accumulate this inventory with an anticipated upside of Rs 5,650-5,880, with draw back assist zone of Rs 5,240-5,100 ranges.

UPL

The inventory is in a robust downtrend forming a sequence of decrease tops and bottoms. The inventory can also be sustaining under its 20, 50, 100 and 200-day SMA’s (easy shifting common) which suggests bearish sentiments.

However, prior to now couple of classes, the inventory has witnessed robust bounceback from decrease ranges together with enormous volumes indicating quick overlaying at decrease ranges.

The day by day energy indicator RSI (relative energy index) is positioned together with optimistic divergence indicating rising energy at decrease ranges. The weekly worth motion has fashioned a “Hammer” candlestick sample nonetheless any observe up weekly shut above Rs 488 ranges will affirm the above-mentioned development reversal sample.

Investors are suggested to utilise any small reduction rallies in the direction of Rs 525-550 ranges as exit alternatives. The draw back assist zone is Rs 460-425 ranges.

Solar Industries

The inventory is in robust uptrend throughout on a regular basis frames forming a sequence of upper tops and bottoms. The inventory has additionally registered an all-time excessive at Rs 8,989 ranges indicating bullish sentiments. On the weekly chart, the inventory has witnessed “multiple resistance” breakout at Rs 7,600 ranges together with enormous volumes indicating elevated participation within the rally.

The day by day, weekly and month-to-month energy indicator RSI is in optimistic terrain which exhibits sustained energy. The inventory is effectively positioned above its 20, 50, 100 and 200-day SMA’s and these averages are additionally inching up together with rising costs which reconfirms bullish development.

Investors should purchase, maintain and accumulate this inventory with an anticipated upside of Rs 9,513-10,120 with draw back assist zone of Rs 8,100-7,900 ranges.

Disclaimer: The views and funding ideas expressed by funding specialists on Moneycontrol.com are their very own and never these of the web site or its administration. Moneycontrol.com advises customers to examine with licensed specialists earlier than taking any funding choices.