ICICI Bank, Adani Ports, Persistent Systems: How to trade these buzzing stocks?

Indian stock indices settled almost flat on Friday after a choppy trading session. Buying in IT and FMCG blue chips was overshadowed by selling in metals and auto stocks. The BSE Sensex added 22.71 points, 0.04 per cent, to end the week at 59,655.06. The NSE Nifty settled flat at 17,624.

The session saw stocks such as ICICI Bank, Adani Ports and Special Economic Zone (Adani Ports and SEZ) and Persistent Systems hogging the limelight. Here is what Mileen Vasudeo, Senior Technical Analyst at Arihant Capital Markets has to say on these stocks ahead of Monday's trading session:

ICICI Bank | Buy | Target Price: Rs 930-970 | Stop Loss: Rs 859
ICICI Bank's intermediate trend remains up on the daily chart. The stock us now retracing its previous gains and is trading well above its 200-day SMA. The stock is showing higher relative strength. It is outperforming the benchmark indices. At present the stock has good support at Rs 883-875 level from where buying may emerge. Hence, one can hold the stock at current levels with a stop loss of Rs 859 a target of Rs 930-970 levels in the couple of weeks.

Adani Ports & SEZ | Hold | Target Price: Rs 700-720 | Stop Loss: Rs 640
Adani Ports & SEZ is trading sideways and is not showing any trend. It is showing a poor relative strength. The momentum indicator viz. MACD has flatten, suggesting there is no clear trend on the counter. Hence,one can hold the stock at current prices with a stop loss of Rs 640 for a target of Rs 700-720 levels in the next couple of months.

Persistent Systems | Hold | Target Price: Rs 4,650-4,970 | Stop Loss: Rs 3,950

Persistent Systems has taken support near its 200-day SMA on the daily chart. It hit a low of Rs 3,962 and is now trading well above it. The stock is outperforming the benchmark indices, as it has higher relative strength. However, the momentum indicators viz MACD is negatively poised. Hence, one can hold with a stop loss of Rs 3,950 for a target of Rs 4,650-4.970 levels in the next couple of weeks.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today.)

Also read: IndusInd Bank, Persistent Systems, Bank of Maharashtra to share Q4 results, declare dividend today

Also read: IndusInd Bank, Persistent Systems, Bank of Maharashtra to share Q4 results, declare dividend today