Equity benchmarks rallied sharply with the Nifty 50 rising 0.8 percent on June 24, according to reports from LKP Securities. The positive market trend is likely to continue with rising strength in technical indicators. Market breadth was marginally positive with 1,542 shares seeing buying interest against 1,463 declining shares on the NSE. Technical analysts are recommending several short-term trading opportunities across various sectors.
Pidilite Industries has been consolidating and has formed a flag pattern on the daily timeframe, as reported by LKP Securities. The stock is trading at ₹1,579 with a target of ₹1,710 and stop-loss at ₹1,535. The RSI remains in a high-growth zone and is indicating strong positive momentum, while the price has been sustaining above key moving averages. The technical setup appears well-positioned for further upside movement.
HDFC Bank has formed a bullish engulfing pattern on the daily chart, indicating a positive shift in sentiment, according to LKP Securities. The stock is trading at ₹793.2 with a target of ₹840 and stop-loss at ₹769. The RSI is also in a bullish crossover on the daily timeframe, supporting the positive outlook. The overall setup points towards a potential upside move towards the target level.
Oberoi Realty has delivered strong intraday performance with the stock opening at ₹1,715.90 and reaching a high of ₹1,765.70 during today's trading session, as reported by Refinitiv. The stock previously closed at ₹1,704.40 with an average traded price of ₹1,742.24. The stock is currently in an uptrend with technical indicators showing positive momentum. The 50 DMA stands at ₹1,668.97 and 200 DMA is at ₹1,623.07, providing key support levels for the ongoing rally.
InterGlobe Aviation continues to exhibit strong bullish momentum after delivering a breakout from a symmetrical triangle pattern on June 12, with the stock trading at ₹5,207.2 and target of ₹5,585 as reported by SBI Securities. The aviation sector stock maintains its strong technical setup despite recent market volatility. Oberoi Realty has given a breakout above its downward sloping trendline resistance on the daily chart, signaling the potential start of a fresh uptrend, with the stock trading at ₹1,753.1 with a target of ₹1,880 and stop-loss at ₹1,685.
