ADITYA BIRLA CAPITAL
CMP (Rs): 324 Change in Open Interest in November Series: 3.55% Change in price in the November Series: 3.8%
Analysts said the stock is showing technical strength after the finance company reported a 36% increase in profits and 12% increase in revenue from operations compared to the previous quarter. “The stock has witnessed a breakout with volumes and is displaying a higher high, higher low pattern in the past three weeks,” said Sudeep Shah, head – technical and derivatives research, SBI Securities. Shah said that till Rs 313 holds, the stock could continue its up-move up to Rs 338-343 levels.
AUROBINDO PHARMA
CMP (Rs): 1,144 Change in Open Interest in November Series: 0.53% Change in price in the November Series: 4%
Shares of Aurobindo Pharma saw a surge in open interest along with a rise in prices on Friday, indicating the addition of long positions. “The stock has been trading in a congestion range (Rs 1,075-1,150 zone) for the past couple of weeks,” said Vipin Kumar, assistant vice president of derivatives and technical research at Globe Capital Market. “On Friday, it breached the said consolidation range on the higher side with a noticeable rise in volumes.” Kumar suggests buying its November futures in the `1,140-1,155 range as he anticipates a potential upmove up to Rs 1,250 levels, till it is holding above Rs 1,090 levelsBSE
CMP (Rs) : 2,480 Change in Open Interest in November Series: 7.53% Change in Price in November Series: 1.53%
Ajit Mishra, senior vice president of research at Religare Broking said the technical setup suggests the potential for further rebound and a possible breakout in the near term. “BSE has been trading in a consolidation phase for the past two weeks while firmly holding above its short-term moving average support zone,” said Mishra. “In the last trading session, the stock rebounded sharply from the medium term support of the 100-DEMA, accompanied by a noticeable rise in open interest—indicating strength and renewed buying interest on dips.” He suggests traders buy it for a target of Rs 2,790 with a stop loss at Rs 2,320.
BHARAT PETROLEUM CORPORATION
(BPCL) CMP (Rs): 356 Change in Open Interest in November Series: 1% Change in price in the November Series: 3.9%
The stock has shown technical strength amid a 169% increase in its profits in the September quarter from a year ago, said analysts. “The stock has given a symmetrical triangle breakout with volumes on weekly charts and has closed at fresh life-highs from a closing basis,” said Shah. “It is also trading above all its short and medium-term moving averages, reinforcing the strength in the current uptrend.” Shah said that till the stock holds above Rs 343, it could continue its up-move to Rs 372-378 levels.
BHARAT ELECTRONICS
CMP (Rs): 426 Change in Open Interest in November Series: -5% Change in price in the November Series: 4.31%
The company’s second quarter profits beat analyst estimates, setting up a base for further upmoves. “The stock is trading above its long-term as well as short-term moving averages in a higher highs and higher lows,” said Kumar. “On Friday, it went up with an exceptional rise in volumes amid short covering.” Kumar suggests traders create long positions and buy their November Futures in the Rs 420-430 range for a target of Rs 460 with a stop loss at Rs 409.
UPL
CMP (Rs): 718 Change in Open Interest in November Series: 5.39% Change in Price in November Series: -0.25%
Mishra said the price structure and momentum in the stock suggest growing investor confidence, supported by renewed buying interest. “UPL has witnessed a strong rebound after successfully retesting the neckline of its corrective phase, accompanied by a significant rise in volumes. This move confirms a multiyear breakout, signalling the potential for a sustained uptrend,” said Mishra. Traders can consider any short-term dip or consolidation phase as an opportunity to accumulate, anticipating a continued upward move towards its record high levels in the coming sessions, for a target of Rs 780, with a stop loss at Rs 688.