BPCL has surged 39 per cent in 2024 so far. It traded at Rs 625.60 today against Rs 450.65 at the end of 2023. If one goes by Emkay Global, further re-rating should not be ruled on the OMC counter
Adani Port has given a breakout of the Rising Wedge Pattern on a weekly time frame on the upside with an increase in volume indicating an uptrend. Price is trading above Fast (50) and Slow (200) EMA, which also indicates an uptrend in the security.
When the stock prices move up and open interest on the counter also moves upward, it is taken as a sign of a long buildup. The signal is considered more reliable if the volume on the counter has also seen an increase.
Adani Ports' volume handling capacity has grown four-fold since 2011 as the country's exports and imports surge. The company operates 13 ports and terminals in India, including the largest container handling port in Mundra in the western state of Gujarat.