Indian benchmark indices gave up big gains on Tuesday and settled marginally higher amid renewed tensions in the Middle East even after ceasefire. Rising volatility dented the sentiment at Dalal Street. BSE Sensex added 158.32 points, or 0.19 per cent, to settle at 82,055.11, while NSE’s Nifty50 rose 72.45 points, or 0.29 per cent to close at 25,044.35 for the day.
Select buzzing stocks including Oberoi Realty Ltd, L&T Finance Holdings Ltd, India Glycols Ltd are likely to remain under the spotlight of traders for the session today. Here is what Rajesh Palviya, SVP of Technical and Derivatives Research at Axis Securities has to say about these stocks ahead of Wednesday’s trading session:
India Glycols | Buy | Target Price: Rs 2,150-2,200 | Stop Loss: Rs 1,910
India Glycols has confirmed a ‘flag’ formation- continuation pattern breakout at Rs 1,950 levels on a closing basis on the daily charts, indicating bullish sentiments. The stock has registered an all-time high at 1982, which reconfirms positive bias. The stock is well-positioned above its 20-day, 50-day, 100, and 200-day SMAs, and these averages are also inching up along with rising prices, which reconfirms bullish sentiments. The daily ‘band Bollinger’ buy signal indicates increased momentum. The daily, weekly and monthly strength indicator RSI is in positive terrain, which indicates rising strength. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 2,050-2,280 , and its downside support zone is the Rs 1,850-1,800 levels.
Oberoi Realty | Buy | Target Price: Rs 2,200 | Stop Loss: Rs 1,930
Oberoi Realty has confirmed a ’rounding bottom’ formation breakout at Rs 1,860 levels on the daily chart. Huge rising volumes signify increased participation. The stock is well-positioned above its 20-day, 50-day, 100, and 200-day SMAs, and these averages are also inching up along with rising prices, which reconfirms bullish sentiments. The daily and weekly strength indicator RSI is in positive terrain, which indicates rising strength. The weekly ‘band Bollinger’ buy signal indicates increased momentum. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 2,115-2,220, and its downside support zone is the Rs 1,950-1,900 levels.
L&T Finance Holdings | Buy | Target Price: Rs 220 | Stop Loss: Rs 192
L&T Finance is in a strong uptrend across all time frames, forming a series of higher tops and bottoms. On the daily and weekly chart, the stock has surpassed multiple resistance breakouts at 195 levels, indicating bullish sentiments. The stock is well-positioned above its 20-day, 50-day, 100, and 200-day SMAs, and these averages are also inching up along with rising prices, which reconfirms bullish sentiments. The past couple of months, huge rising volumes signify increased participation. The daily, weekly and monthly strength indicator RSI is in positive terrain, which indicates rising strength. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 220-235, and its downside support zone is the Rs 195-185 levels.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
