Fri: Tech stocks plummet

Sundram Fasteners appears to have a positive outlook with the potential to reach ₹1,900-₹2,000. The stock bounced from a low of ₹730, breaking the downtrend from September 2024. Key support levels are at ₹965, followed by ₹840 and ₹790. Investors can accumulate shares at ₹1,020 and trail a stop-loss up to ₹1,210 and then ₹1,520 and ₹1,730 as the stock price rises. The targeted exit point is at ₹1,880.

HDB Financial Services is experiencing a downtrend with no signs of reversal. Resistance levels of ₹560 and ₹610 could cap the stock's upside, and it may fall to ₹380-₹370. The current support around ₹380 could halt further decline and potentially push the price towards ₹500. Investors with a high-risk tolerance might consider buying at ₹380, setting a stop-loss at ₹345 and trailing it up to ₹395 and then ₹420 and ₹445 as the price nears ₹440 and ₹460. The exit point is at ₹480.

Sterlite Technologies has seen its price soar to ₹1,054 and then correct to the current level. The support at ₹715 may be tested in the coming weeks, and a rise from this level could push the stock to ₹1,250. However, a break below ₹715 would signal a bearish trend reversal, potentially dragging the price down to ₹600 or lower. High-risk investors could buy at dips around ₹760 and ₹740, with a stop-loss at ₹680, and trail it to ₹810 and then ₹940 and ₹1,090 as the stock rises to ₹930, ₹1,060, and ₹1,140, respectively. The recommended exit point is at ₹1,230.

For Techno Electric & Engineering Company, the outlook is bearish, with a recent drop below ₹940 indicating a bearish breakout of a multi-year triangle pattern. The stock could tumble to ₹450 in a year. Any intermediate rise will face resistance around ₹1,000, with strong resistance in the ₹1,250-₹1,300 range. The stock may not recover convincingly, and investors should exit the position to avoid additional losses.