RIL, ONGC, M&M: Trading strategies for buzzing stocks of the day

Trend remains optimistic in RIL, ONGC, M&M, KEX and Titan shares, as per their respective charts.

Shares of Reliance Industries will be in spotlight on Monday post listing of the Jio Financial Services. Likewise, Titan Company, which intends to acquire 27 per cent stake in its subsidiary CaratLane Trading and Mahindra & Mahindra showcasing intention to inspect select SVU products will be on the radar. 

Oil & Natural Gas Corporation and Kec International will be in focus regards to extension in exploration and new orders, respectively.

Here’s the technical outlook of stocks in news:-

Reliance Industries Ltd (RELIANCE)

Likely target: Rs 3000

Upside potential: 16%

Shares of Reliance Industries need to sustain over Rs 2,580 to recoup the positive bias. Immediate support exists at Rs 2,453, its 50-day simple moving average (SMA), as per the daily chart. Breakout could garner a rally to Rs 3,000 level. CLICK HERE FOR THE CHART

Titan Company Ltd (TITAN)

Likely target: Rs 3,500

Upside potential:  10%

Post breaching the support of 50-SMA, existed at Rs 2,980, the stock managed to rebound with a robust up move. This price action is well supported by the momentum indicator, Moving Average Convergence Divergence (MACD), which managed to cross the zero line with an influential structure. Above Rs 3,150, its immediate hurdle, the counter might rally towards Rs 3,500. CLICK HERE FOR THE CHART

Mahindra & Mahindra Ltd (M&M)

Outlook: Breakout over Rs 1,580 could hit Rs 1,700

Following a breakout over Rs 1,400-mark, the counter is experiencing minor hurdle at Rs 1,580-mark, as per the weekly chart. Until the stock defends ground over Rs 1,400, probability of breaking through over the hurdle becomes very legit. The counter may then move in the direction of Rs 1,700. CLICK HERE FOR THE CHART

Oil & Natural Gas Corporation Ltd (ONGC)  

Outlook: Breakout over Rs 180

Oil & Natural Gas Corporation shares could breakout once the hurdle of Rs 180 is surpassed, as per the daily chart. Then, the rally towards Rs 200 may be expected. A closing basis support stays at Rs 170 level. Overall trend shows “Higher High, Higher Low” formation, with price action displaying a resilient bias. CLICK HERE FOR THE CHART

Kec International Ltd (KEC)

Outlook: 50-SMA acts as support

With the support of R 600-mark, if the Kec International succeeds to cross the Rs 680-level with a decisive breakout, the price action could see a move to Rs 750-mark, as per the daily chart. The 50-SMA is the critical support the stock needs to defend. CLICK HERE FOR THE CHART