The S&P BSE Sensex and Nifty50 rallied more than 1 percent each on Monday pushing the benchmark indices towards record highs.
On the sectoral front, the action was seen in infra, auto, metals, telecom, and consumer discretionary while some profit-booking was seen in the FMCG space.
Stocks like Exide Industries rose more than 5 percent, Graphite India gained by about 18 percent, and M&M was up more than 7 percent.
We have collated views of experts on what investors should do when the market resumes trading on February 5:
Expert: Vikas Jain, Senior Research Analyst at Reliance Securities
Exide Industries: Hold | Target: Rs 240
The stock is holding above its medium-term averages and closed at an 18-month high with a strong up move seen over the past few days.
The stock has broken above its long-term monthly averages and the positive momentum would continue over the next few weeks. The current up move can lead the stock higher to Rs 240 levels
Graphite India: Book ProfitsThe stock has witnessed a vertical up move post its breakout above its 200-Days average levels and doubled in the last two months.
RSI is trending near the higher band so we expect a price and time correction. We would recommend booking profit at current levels as 200 week average of Rs 448 would act as strong resistance.
M&M: Hold | Target: Rs 1000The stock has been a strong outperformer post the recent results with gains of 24 percent in the current expiry.
The recent price action is very swift and sharp so one can expect a minor pullback towards Rs 870-880 levels. On the higher side, we expect a target of Rs 1000 over the next few months.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.