Nykaa, Delhivery, PB Fintech: How to trade these new-age stocks amid results season?

Benchmark stock indices snapped the three-day losing streak to settle higher on Friday after a volatile session. The BSE Sensex rose 297.95 points, or 0.48 per cent, to close at 61,729.68. The NSE's Nifty gained 73.45 points, or 0.41 per cent, to settle at 18,203.40.

Select new age stocks including FSN E-Commerce Ventures (Nykaa), Delhivery and PB Fintech are likely to be in limelight today. Here is what Mileen Vasudeo, Senior Technical Analyst at Arihant Capital Markets as to say on these stocks ahead of Monday's trading session:

FSN E-Commerce Ventures | Buy | Target Price: Rs 148-164 | Stop Loss: Rs 113

On the daily chart, Nykaa is maintaining a lower top-low bottom formation, which is a sign of weakness. The stock is clearly underperforming the benchmark indices. At present, the stock is trading sideways with no clear direction. Even the momentum indicators are flat, which confirms the sideways movement. Hence, one can hold the stock at current prices with a stop loss of Rs 113 for a target of Rs 148-164 levels in the next couple of weeks.

PB Fintech | Buy | Target Price: Rs 740-800 | Stop Loss: Rs 560

PB Fintech, after a prolonged downtrend, is now showing signs of a trend reversal. On the daily chart, the stock has started making a higher top-higher bottom formation. The stock has recently started outperforming the benchmark indices. The momentum indicator, viz., MACD, is gaining momentum. Combining the above factors, it is evident that momentum on the upside is likely to continue. Hence, one can buy the stock at current levels with a stop loss of Rs 560 for a target of Rs 740-800 levels in the next couple of months.

Delhivery | Hold | Target Price: Rs 397-428 | Stop Loss: Rs 340

Delhivery is trading sideways and showing no clear trend. Further, the stock is underperforming the benchmark indices. Even the momentum indicators are flat, which confirms the sideways movement. Hence, one can hold the stock at current levels with a stop loss of Rs 340 for a target of Rs 397-428 levels in the next couple of weeks.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today.)

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