Domestic stock indices settled higher on Friday, snapping a three-day losing run. Positive global cues and buying at lower levels supported the sentiment, as the BSE Sensex jumped 496.37 points, or 0.70 per cent, to settle at 71,683.23. The NSE Nifty added 160.15 points, or 0.75 per cent, to end the day at 21,622.40. A few stocks namely RITES Ltd, Bharat Petroleum Corporation Ltd (BPCL) and Oil India Ltd are likely to be in focus today. Here is what Rupak De, Senior Technical Analyst at LKP securities has to say on these stocks ahead of Saturday's trading session:RITES | Buy | Target Price: Rs 580-600 | Stop Loss: Rs 530 RITES has formed a Flag pattern on the hourly chart and a breakout from the recent consolidation might lead the stock to a strong rally. The stock has been sustaining above the critical moving average. On the higher end, the stock might move towards Rs 580-600. A support is visible at Rs 530. One can initiate a buy on the stock in the range of Rs 548-553.Bharat Petroleum Corporation | Buy | Target Price: Rs 540 | Stop Loss: Rs 464 BPCL has given a box pattern breakout on the daily timeframe, suggesting an improved optimism. The stock has been sustaining above the critical moving average. On the higher end, the stock might move towards Rs 540. A support is visible at Rs 464. One can initiate a buy on the stock in the range of Rs 478-482. Oil India | Buy | Target Price: Rs 450-470 | Stop Loss: Rs 380 Oil India exhibited a robust uptrend, characterised by higher high-lows on the daily chart. The momentum indicator RSI supports the bullish sentiment with a positive crossover. The lower-end support is identified at Rs 380, providing a cushion for potential pullbacks. The anticipated upside targets for the stock are seen at Rs 450-470.
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