5Paisa, Dolat Investments, Emkay Global: Time to look at brokerage stocks?

Major brokerage houses are indicating a positive upside, daily chart suggests.

Online brokerage houses have seen a spurt in the addition of investors and trading activities in the last few months amid coronavirus pandemic. Interestingly, a substantial number of these new investors are from smaller towns and the average age of such investors is between 25 years and 30 years, according to brokerages.

"The trend of investing in stocks either directly or through mutual fund will continue for retail investors as there are hardly asset classes left to invest and earn decent returns," Business Standard had reported quoting Prakarsh Gagdani, the CEO of 5paisa.com, as saying. READ MORE

Below is a look at how key brokerage houses look in charts and how you should trade them.

ICICI Securities Limited (ISEC): The counter has seen a surge in volume in the last two sessions. This indicates a buying interest of market participants as price is moving to the higher levels. The Moving Average Convergence Divergence (MACD) has crossed the zero line with price crossing resistance of Rs 505 levels. The subsequent resistance is at Rs 519, where the counter is expected to rally in the coming sessions as per the daily chart. The support stays at Rs 483 levels. CLICK HERE FOR THE CHART

Indiabulls Ventures Limited (IBVENTURES): The price is scaling higher levels in the overbought condition of the Relative Strength Index (RSI). This suggests a firm strength in the price which is expected to hold for the coming sessions. Till the counter trades above the support of Rs 180 levels, the rally may see the counter hitting Rs 220 and Rs 235 levels. CLICK HERE FOR THE CHART

Emkay Global Financial Services Limited (EMKAY): The counter currently faces resistance at 200-day moving average (DMA), as per the daily chart. The volumes have remained subdued. The weekly chart shows a resistance of 50-weekly moving average (WMA) at Rs 52.95, and any decisive close would indicate a possible rally towards Rs 67 levels, which is its 100-WMA. The immediate support comes in at Rs 40 levels, as per the daily chart. CLICK HERE FOR THE CHART

5Paisa Capital Limited (5PAISA): Although the counter is in the trade-to-trade segment, it has not seen any major negative sentiment. With the recent new all-time high, the price has seen added interest of market participants. The current level shows the sideways movement as the gap-down around Rs 400 has slowed down the upside bias. However, till the counter holds the support of Rs 300 levels, the upward momentum may see aggression. CLICK HERE FOR THE CHART              
 
Dolat Investments Limited (DOLAT): With a “Golden Cross” formation, this counter is ready for a steady upside towards Rs 85 on a medium term perspective. The daily chart structure strongly suggests “higher high, higher low” formation. Once the price breaks out above Rs 65, one may see a surge in volumes. The support comes in at Rs 59 and Rs 57 levels.  CLICK HERE FOR THE CHART