Tech Check: Coal India bottoming out; reversal for PNB imminent

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After a mixed session on August 5, the Indian equity market rallied higher on Friday with Sensex surging up to 300 points, while the Nifty50 was trading well above 10,900 levels.

We have collated a list of stocks which remained in focus on Tuesday because of their price action. The technical outlook is limited to near and medium-term:

Analyst: Amit Gupta, Co-Founder and CEO, TradingBells

Punjab National Bank: Maintain buy with a target of Rs 65

On the daily charts, PNB is showing some signs of reversal. It can be bought at current levels (CMP Rs 61) for a target of Rs 65 with a strict stop loss placed below Rs 58 as the weekly and monthly charts are still negative. The time frame for the target is 10 days.

Dilip Buildcon: Target seen at Rs 420 with a stop loss below Rs 350

Technically, the structure is weak, but we can see some reversal on the daily charts above Rs 370. It can be bought at CMP of Rs 371 for a target price of Rs 420 with a strict stop loss of Rs 350 within a week to 10 days.
Coal India: Showing signs of bottoming out; target Rs 210

Coal India is technically bottoming out on the daily as well as weekly charts. It can be bought above Rs 190 for a target price of Rs 210 with a strict stop loss of Rs 179 for a time frame of 10 to 15 days.

Avanti Feed: Next target Rs 375 with a holding period of 1-month
Avanti Feed technically looks positive on the daily as well as weekly charts. It can be bought above Rs 330 for a target of Rs 375 with a strict stop loss of Rs 310. The time frame is one month.

AavasFinanciers: Next target is seen at Rs 1,660 with a holding period of 1-month
Aavas Financiers technically looks extremely positive on daily, weekly and monthly charts. It can be bought at CMP Rs 1,550 for the target of Rs 1,660 with a strict stop loss of Rs 1,490. The time frame is one month.

Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.