HDFC Bank (₹1,769.85)
Breaks out of a resistance
HDFC Bank’s stock has largely been moving in a sideways trend since early February. It has been oscillating between ₹1,670 and ₹1,740. Last week, it surpassed the resistance at ₹1,740, opening the door for further rally. That said, there is a chance for the stock to moderate to ₹1,740 before the next upswing.
So, from the current level, the price might drop to ₹1,740 followed by a rally which can potentially lift the stock to ₹1,875. So, traders can buy at ₹1,760 and on a dip to ₹1,740. Place stop-loss at ₹1,700. When the stock rises to ₹1,810, trail the stop-loss to ₹1,770. When the price hits ₹1,840, tighten the stop-loss further to ₹1,800. Book profits at ₹1,875.
NMDC (₹67.49)
In accumulation phase
The stock of NMDC has been consolidating since the beginning of 2025. It has been moving within the broad ₹60-68 range. Even when the broader market was on the descent in January and February, NMDC’s stock managed to stay sideways. This is an indication of accumulation phase, a positive sign.
We can expect the stock to breach ₹68 soon and set off for an upward move to ₹82. Given the prevailing conditions, we recommend buying shares of NMDC at ₹67 and buy more shares in case the price dips to ₹63. Keep a stop-loss at ₹58. When the stock rises to ₹72, alter the stop-loss to ₹66. Tighten the stop-loss to ₹72 when the price touches ₹78. Liquidate the longs at ₹82.
ONGC (₹242.55)
Shows bullish inclination
The stock of Oil & Natural Gas Corporation (ONGC) bounced off ₹220 twice this month. Last week, the scrip moved past the resistance at ₹234 and the price is now above the 20-day moving average. Thus, ONGC’s stock has started showing bullish inclination.
Going ahead, it can rally to ₹260 in the near-term and then might witness a minor correction, possibly to ₹245-250 region. Following this, the stock can resume the uptrend and appreciate to ₹300 before the end of this year. So, buy ONGC shares at ₹240 and accumulate at ₹225. Place stop-loss at ₹210. When the stock surpasses ₹270, revise the stop-loss to ₹250. On a rally to ₹285, raise the stop-loss to ₹270. Exit at ₹300.
