 "The average daily trading volume (ADTV) for the futures and options segment climbed to a new record high of Rs 537 trillion in September, rising 7.2 per cent on a month-on-month basis. The ADTV for the cash segment, however, fell nearly 4 per cent to")
Buy HDFC AMC; CMP: ₹4,702 | SL: ₹4,570 | TGT: ₹5000
HDFC Asset Management Company has given a decisive range breakout on the daily chart, accompanied by a large-bodied bullish candle, which signifies strong buying interest and momentum. The stock has been consistently respecting its 50-day Exponential Moving Average (DEMA), with every minor dip being absorbed quickly, indicating accumulation at lower levels. The MACD indicator is trending upwards, reinforcing the bullish momentum and suggesting that the recent breakout could see further follow-through. The overall structure remains constructive with potential for sustained upside towards the ₹5,000 mark.
Buy Grasim; CMP: ₹2,824 | SL: ₹2,765 | TGT: ₹2,950
Grasim has witnessed a bullish breakout from a classic flag and pole pattern, which is a continuation pattern that typically signals the resumption of an existing uptrend. The breakout is well-supported by a notable surge in volumes, adding strength and reliability to the pattern. Additionally, the RSI indicator is positively placed, remaining above 60 and trending higher, which reflects strong momentum. With price sustaining above the breakout zone and broader market support, the stock looks poised for an upward trajectory towards ₹2,950 in the near term.
ALSO READ: Here's your Bank Nifty trading guide by Kotak Securities' Sahaj Agrawal
Buy Ashok Leyland; CMP: ₹239 | SL: ₹232 | TGT: ₹255
Ashok Leyland has broken out of a consolidation zone on the daily timeframe, indicating a shift from a sideways phase to a trending move. The breakout is backed by improving sector sentiment, with buying seen across the auto segment, which adds to the stock-specific bullishness. The RSI is in a rising trajectory, currently placed above 60, suggesting increasing strength and momentum in the stock. The structure shows a strong base formation, and with volume expansion, the stock appears set to head towards ₹255, offering a favourable risk-reward setup.
ALSO READ: F&O Setup: Here's how to trade Bank Nifty with a Bull Spread strategy
(Disclaimer: Ruchit Jain is head of equity technical research, wealth management at Motilal Oswal Financial Services Ltd. Views expressed are his own.)
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