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The continued decline in crude oil prices, with Brent slipping below the key $100 per bbl level, provided some relief to investors and helped the domestic market recover from intraday lows, although overall sentiment remained cautious.Here are 3 stock ideas for Wednesday: Target: Rs 1,020–1,050 Stop loss: Rs 895 BlueStone has regained strong upward momentum after consolidating in the Rs 820-900 zone. The stock has now crossed its previous swing resistance around Rs 900 and is trading close to its 52-week high zone, indicating a potential breakout setup. Himanshu Gupta, Head of Research - Retail Broking, Jainam Target: Rs 400 Stop loss: Rs 353 The range bound action of the last one month has reversed sharply. We observe the formation of crucial higher bottom reversal pattern at Rs 318 on16th September. The stock price is currently in an attempt of moving sharply above the multi-month resistance at around Rs 360-365 levels. Nagaraj Shetti, AVP - Technical Research, HDFC Securities Target: Rs 1580 Stop loss: Rs 1402 The stock price was in a strong upside momentum over the last few months. We observe a bullish pattern like higher tops and bottoms over the period. Currently in an attempt of decisive breakout of few weeks range at around Rs 1450- 1460 levels. Volume and RSI patterns indicate positive bias for the stock price ahead. Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclourses here.
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