AU SFB witnessed four consecutive sessions of narrow-range body formations on the daily chart, which indicates indecisiveness prevailing at the current level. 
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AU SFB witnessed four consecutive sessions of narrow-range body formations on the daily chart, which indicates indecisiveness prevailing at the current level. Weak earnings from Infosys dragged the IT pack, as the benchmark domestic stock indices settled lower on Friday. The BSE barometer Sensex tanked 887.64 points, or 1.31 per cent, to end the session at 66,684.26. The NSE's Nifty plunged 234 points, or 1.17 per cent, to 19,745.
Select results-bound stocks such as Tata Steel, AU Small Finance Bank and Indraprastha Gas (IGL) are likely to be in focus today. Here is what Mileen Vasudeo, Senior Technical Analyst at Arihant Capital Markets has to say on these stocks ahead of Monday's trading session:Tata Steel | Hold | Target Price: Rs 124-130 | Stop loss: Rs 112 Tata Steel maintained a higher top0higher bottom formation on the daily chart, which is a sign of strength. The stock has started trading above its 50-day (Rs 110) and 200-day SMA (Rs 109) and the stock could be entering a momentum phase. However, at present, the stock is underperforming the benchmark indices. The momentum indicator viz MACD is positively poised, which suggests momentum ahead on the upside. One can hold the stock at current levels with a stop loss of Rs 112 for a target Rs 124-130 in the next couple of weeks. Indraprastha Gas | Hold | Target Price: Rs 512-521 | Stop loss: Rs 485
Indraprastha Gas traded sideways and showed signs of consolidation on the daily chart. The stock is outperforming the benchmark stock indices. At present, the immediate resistance is at the Rs 501 level. Any breakout above the mentioned level with higher volumes would activate the Bullish Cup and Handle pattern. Hence, one can hold the stock at current levels with a stop loss of Rs 485 for the target of Rs 512-521 levels in the next couple of months.
AU Small Finance Bank | Hold | Target Price: Rs 779-786 | Stop loss: Rs 758 AU Small Finance Bank witnessed four consecutive sessions of narrow-range body formations on the daily chart, which indicates indecisiveness prevailing at the current level. At present, the momentum indicator viz. RSI is trading flat and not giving a clear momentum direction. Hence, one can hold the stock at current prices with a stop loss of Rs 758 for a target range of Rs 779-786 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.)
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