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Trading recommendations by Nilesh Jain of Anand Rathi: Buy HPCL, UPL

Topics Stock calls | stocks | Markets

BUY HINDPETRO | TARGET: Rs 255 | STOP LOSS: Rs 222 The stock is on the verge of a breakout an 'inverse head and shoulder' pattern on the daily chart. The neckline is placed at 236 levels; above that we can expect a fresh leg on the upside towards 255 levels. The momentum indicators and oscillators have also provided a buy crossover on the daily chart. The stock also witnessed a built-up of long positions with the addition of 10 per cent open interest. BUY UPL | TARGET: Rs 550 | STOP LOSS: Rs 492 The stock is forming a 'saucer' formation on the daily chart as w.....

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