SBI shares had been in a consolidation zone of Rs 720-790 for almost two months now and on Thursday it gave a channel breakout with good volumes. With the Daily Relative Strength Index (RSI) on the verge of entering an extremely bullish zone, this stock can touch the Rs 850-860 zone in the short term.
ONGC Ltd, an oil & gas stock, has rallied by over 20% in the last 3 months, hitting a fresh 52-week high in January 2024. Short-term traders can buy the stock for a target of Rs 295 in the next 3 months. The stock rose from Rs 186 to Rs 239, a 26% upside in 3 months. It broke out from a multi-year swing high and closed above the Bollinger band on the monthly charts. Investors may consider initiating a position with a target of 295 and a stop loss at 190.
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