HCL Technologies Ltd.
- This stock is currently trading around `1127 and consolidated in a range between `704 and `1125 between 2014 and 2019 and is now breaking out of the range suggesting strong upside from current levels.
- The stock is trading smoothly above its 5, 10, 20, 50 and 200 day simple and EMA.
- Coming to indicators the ADX, MACD and Parabolic SAR have all triggered a buy signal on daily, weekly and monthly charts.
- We recommend buying the stock at `1127 with target of `1185 and `1255 achievable within the next 30 and 60 sessions respectively using a stop loss of `1070.
Oil and Natural Gas Corporation Ltd.
- ONGC Ltd., trading around `166, has formed a double bottom at `127.60 earlier this year on monthly charts taking support at the low of 2016 and started rising gradually.
- The stock is now 30% above its 52 weeks low and trading above its 5, 10, 20, 50, 100, 200 day simple and EMA on daily chart.
- Indicators like ADX, MACD and Parabolic SAR have triggered a buy signal on daily and weekly charts.
- We recommend buying at `166 with targets of `185 and `212 achievable within the next 45 sessions and 90 sessions respectively using a stop loss of `153.
