Buy Axis Bank, Oberoi Realty shares; sell BPCL stock, says LKP Securities

Buy Axis Bank, Oberoi Realty shares; sell BPCL stock, says LKP Securities

An analyst from LKP Securities said that BPCL resumed below the important 21 EMA which confirms the presence of further downside pressure forex.

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Oberoi Realty has formed a symmetrical triangle pattern on the daily chart, continuing its upward trend after establishing support, said the analyst.Oberoi Realty has formed a symmetrical triangle pattern on the daily chart, continuing its upward trend after establishing support, said the analyst.
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Pawan Kumar Nahar
  • Sep 16, 2024,
  • Updated Sep 16, 2024 7:25 AM IST

Indian benchmark saw some profit booking during the trading session on Friday after sharp rise amid mixed cues. Traders awaited the US Fed's policy outcome due later this week for rate cut cues. BSE Sensex shed 71.77 points or 0.09 per cent, to end the session at 82,890.94. NSE's Nifty50 dropped 32.40 points, or 0.13 per cent, to close at 25,356.50 for the day.  

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Some buzzing stocks including Oberoi Realty Ltd, Bharat Petroleum Corporation (BPCL) and Axis Bank Ltd are likely to remain under the spotlight of traders for the session today. Here is what a Rupak De, Senior Technical Analyst at LKP Securities has to say on these stocks ahead of Monday's trading session:

 

Axis Bank has developed an ascending triangle pattern on the daily chart, remaining above a key moving average. The RSI is in a bullish crossover and trending upward. In the short term, the stock could move toward Rs 1,275, with support at Rs 1,179 on the lower side.

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.

Indian benchmark saw some profit booking during the trading session on Friday after sharp rise amid mixed cues. Traders awaited the US Fed's policy outcome due later this week for rate cut cues. BSE Sensex shed 71.77 points or 0.09 per cent, to end the session at 82,890.94. NSE's Nifty50 dropped 32.40 points, or 0.13 per cent, to close at 25,356.50 for the day.  

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Related Articles

 

Some buzzing stocks including Oberoi Realty Ltd, Bharat Petroleum Corporation (BPCL) and Axis Bank Ltd are likely to remain under the spotlight of traders for the session today. Here is what a Rupak De, Senior Technical Analyst at LKP Securities has to say on these stocks ahead of Monday's trading session:

 

Axis Bank has developed an ascending triangle pattern on the daily chart, remaining above a key moving average. The RSI is in a bullish crossover and trending upward. In the short term, the stock could move toward Rs 1,275, with support at Rs 1,179 on the lower side.

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.
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