Nishchal Jain, Quant Researcher, Share.Market by PhonePe explains why these 5 smallcap stocks look strong on charts, and suggests indicative support and resistance levels for these shares.
Zensar Technologies, CDSL, Bandhan Bank and MRPL from the Nifty Smallcap 100 index rallied between 5% and 12% in Friday's intra-day trade.
In the past 20 trading days, the Nifty IT index tanked 17 per cent, as against a 2.2 per cent rise in the Nifty 50 till Wednesday.
Motilal Oswal has reiterated a 'Buy' rating on BEL stock with an unchanged target price of ₹510, based on the 45x two-year forward earnings.