 "Broader markets outperform benchmark indices")
The BSE mid-cap index has advanced 0.55% or 6,691 and the small-cap index is up 0.53% or 35 points at 6,623.
Puravankara Projects is the top gainer from the mid-cap pack. The stock has jumped 15% to Rs 103.
Adds Devangshu Datta, Technical Analyst, Puravankara Projects has resistance at 103-105. Support at 95-97 next support 88-91. Trend not very clear but volume rise suggests bullish bias. Breakout past 105 could go till 109 or even 112.
Peninsula Land, Eicher Motors, Motilal Oswal Financial Services, Cholamandalam Investment & Finance Company, Den Networks, BGR Energy Systems are also buzzing in trades, up 4-7% each.
Hotel Leela Ventures has zoomed 10% at Rs 27 after the Board of Directors approves to sell the company's IT Park Building in Chennai.
Kingfisher Airlines was locked at upper circuit at Rs 10.53 as UB Holdings seek to revamp support to the beleaguered Airlines.
On the other hand, AIA Engineering, Opto Circuits (India), India Tourism Development Corporation, Sobha Developers, Tuni Textile Mills and 3M India are among the top losers, down 2-3% each.
The overall breadth of the BSE mid-cap index is healthy as 167 stocks are advancing while 75 are declining.
According to Kunal Bothra, Technical Analyst, LKP Securities, “Balrampur Chini is the better of the lot in the sugar pack. Comfortably above its 100 DEMA, its indicators are also showing some decent strength. Entry around 50 levels would be decent for a favourable risk-reward with a target of 57 and stop loss of 47.
Hotel Leela is showing a strong price performance today, has a stiff resistance at 28.30 levels with support at 25.40. Everonn has been declining steadily since the last 2 years. Short term resistance is placed at 92.05 with support at around 75 levels.”
Says Ranak Merchant Technical Analyst - Strategies, Sushil Financial Services, "Brigade Ent looks good and can be accumulated between 80 - 83 for a target of 90. Parsvanath Dev though a slower mover can be looked at from medium term target of 47-48."
Rail stocks like Titagrah Wagons has formed a base near 292, upon any strength seen in this counter one can buy with stop loss of 292 for a tradeable target of 335, trigger would be at 305. Kalindee Rail has found support at its 200 Day EMA of 88 and a move above this 88-89 zone can see the stock test 96, stop loss to be maintained at 85."