The market is very volatile and finally settled at a height of three months of trading on 17 January. BSE Sensex closed above 61,300 level, almost 90 points higher, while Nifty50 ended at 18 308, up on October 19, 1921, rose more than 50 points.

The broader market also closed higher with the Nifty Midcap 100 index rose 0.16 percent and small index climbing six tenths of a percent.

Stocks in focus included Exide Industries and ICICI Prudential Life Insurance Company, which is an addition to the third and fourth largest in the Futures & Options segment, rose 4.95 per cent to Rs 182.50 and 415.65 respectively soared.

Among other things, Adani Green Energy reached a new record of Rs 1,854, before closing with an increase of Rs 8.09 per cent at 1835.30, while Raymond also touched a new 52-week high of Rs 793.60, before completing a trade at RS 782.15 to rise 15 percent. .

HFCL also in action, up 4.90 percent end at record closing high of Rs 96.35.

At the weekly period, HFCL has broken out of the triangle formation rose long 6 months with strong volume. Breakout point to the continuation of the existing medium-term trend.

Indicator Relative Strength Index (RSI) on a weekly basis have witnessed a shift in the reach and sustain above 50 marks since September 2020.

Investors can hold and accumulate this stock with upside target of Rs 115 followed by Rs 130. The downside support lies at Rs 85.

After the latest corrective measures. ICICI Prudential taking support at Rs 540, at the breakout level of May 2021 that rests at the 61.8 percent Fibonacci retracement (Rs 418-726).

On the daily time period, on January 17, 2022 the stock has been recaptured and moved above the simple moving average 200 days (SMA) (Rs 602).

RSI on all timeframes (daily, weekly, monthly) in the top 50 and show strength.

Traders and investors can continue to hold the stock and expect a step up towards Rs 680 followed by a swing high of Rs 725. downside support lies at Rs 590-600 for this stock.

Exide Industries is engaged in sideways trend since last 1 year (Rc 160-210 range). Today the daily time period, stocks have moved above the 200 day SMA (Rs 178) with good volume.

RSI is plotted on the daily time period has moved above the 70 level which indicates a positive momentum in the short term. In the short term, the stock has the potential to move towards Rs 200-210 levels with support at Rs 177.

Investors can use this move towards Rs 200 to get out of the stock.

Adani Green Energy during the last 2 weeks has formed a higher low pattern higher after coming out of the Rs 1,460 mark. Steps up has been supported by a buildup of volume above average, indicating participation in steps up.

Stock has maintained above SMA 20 weeks since September 2021, indicating that the medium-term trend remains bullish on the stock.

In front of the RSI indicator is plotted on the weekly time frame can be placed over the mark of 50 and is now moving higher, indicating an increase in the price of the bullish momentum.

Investors holding these stocks can continue to survive because we expect the price to the Rs 2,153 and finally towards Rs 2,498. We also recommend a strict termination of Rs 1,700 each day of closure.

Raymond on the weekly chart can be seen forming a higher low pattern higher. On January 17th 2022 the price formed a strong bullish candle and test fresh 52-week high. Steps up is powered by a buildup of good volume, indicating participation in steps to the top.

In the field of the RSI indicator is plotted on the weekly chart is placed over pins 50 and move higher into overbought level, indicating an increase in the price of the bullish momentum.