Bharat Dynamics decisively surpassed its previous record high of February 27 and ended at new closing high of Rs 2,046 with robust volumes. The stock has formed long bullish candlestick pattern on the daily timeframe.
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.
Ashwini Shami of OmniScience Capital also expects the RBI to cut interest rates at least once this year to balance the currency impact of a similar action by the US Federal Reserve
Amara Raja Energy formed robust bullish candlestick pattern on the daily charts. The trading volumes remained strong for last five days, while the stock traded well above all key moving averages.