Market Trading Guide: Hindustan Petroleum, UltraTech Cement Among 6 Stock Picks for Monday – Stock Ideas

Target price: Rs 600
Stop Loss: Rs 526

On a weekly basis, Hindustan Petroleum Corporation Ltd broke through an upper pennant pattern forming a continuation pattern. On the EMA front, the price is trading above the important EMA (14,21,50) which indicates the strength of the security and it is trading above all three EMAs.

(Kunal Kamble, Senior Technology Research Analyst, Bonanza Portfolio)