RBL Bank, HBL Power among 4 stocks that can analysts suggest for decent upside

RBL Bank, HBL Power among 4 stocks that can analysts suggest for decent upside

Investors have to be cautious at this stage. Profit booking in the mid-and small-cap stocks which have shot up on hope and aggressive buying would be a good strategy, suggested an expert.

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According to technical analysts, select stocks- Motilal Oswal Financial Services, ITC, RBL Bank and HBL Power Systems can deliver decent returns in the near-term.According to technical analysts, select stocks- Motilal Oswal Financial Services, ITC, RBL Bank and HBL Power Systems can deliver decent returns in the near-term.
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Pawan Kumar Nahar
  • Sep 28, 2023,
  • Updated Sep 28, 2023 11:19 AM IST

Domestic equity market remained volatile on Friday amid the monthly expiry of derivative contracts. Benchmark indices erased all the early gains amid the absence of decisive global cues and traded with mild cuts in the early hours. The overall tone of the markets remains feeble and fragile as the US dollar is flexing its muscles and US treasury yield shoots higher. RBL Bank has experienced a symmetrical triangle breakout on the daily chart, indicating a surge in optimism. The stock has maintained its position above a critical moving average. Furthermore, the stock's RSI is showing a bullish crossover. On the upper side, it has the potential to move towards Rs 260. On the lower side, support is situated at Rs 239.Recommended by: Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.

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Also read: Top 7 stocks to watch on September 28, 2023: Tata Power, YES Bank, Aurobindo Pharma, Dixon Tech & more

Also read: Bank Holiday in these states due to Eid-E-Milad, Yatra Online shares listing in Top News on September 28: Share markets, Bank Nifty outlook, BMW iX1 electric SUV India launch

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.

Domestic equity market remained volatile on Friday amid the monthly expiry of derivative contracts. Benchmark indices erased all the early gains amid the absence of decisive global cues and traded with mild cuts in the early hours. The overall tone of the markets remains feeble and fragile as the US dollar is flexing its muscles and US treasury yield shoots higher. RBL Bank has experienced a symmetrical triangle breakout on the daily chart, indicating a surge in optimism. The stock has maintained its position above a critical moving average. Furthermore, the stock's RSI is showing a bullish crossover. On the upper side, it has the potential to move towards Rs 260. On the lower side, support is situated at Rs 239.Recommended by: Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.

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Also read: Top 7 stocks to watch on September 28, 2023: Tata Power, YES Bank, Aurobindo Pharma, Dixon Tech & more

Also read: Bank Holiday in these states due to Eid-E-Milad, Yatra Online shares listing in Top News on September 28: Share markets, Bank Nifty outlook, BMW iX1 electric SUV India launch

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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