Analysts Flag Titan, Adani Power as Breakout Bets
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- Titan Company drew Axis Securities' bullish call after open interest rose 0.8% and price gained 3.7% in the April series, with Palviya noting strong rollover at a lower roll cost of 0.31% (down from 0.68%) ahead of the Akshaya Tritiya festival.
- Adani Power saw 98.95% open interest surge in its first two sessions as a newly inducted derivatives stock, with Globe Capital Market's Kumar identifying a breakout from a 5-month congestion zone and recommending a buy at Rs 159-156 for a Rs 170-175 target.
- Hindalco Industries posted a 3.6% price gain on –1.8% open interest — short-covering — with Palviya tying the rally to global supply shocks at EGA and Alba lifting LME aluminium benchmarks ahead of a Q4 print expected to validate margin expansion at Novelis and domestic operations.
- National Aluminium hit its highest weekly close on –14.55% open interest and 4% price gain, also indicating short-covering; SBI's Shah set a Rs 419-427 target with Rs 388 stop loss.
- ABB India drew Palviya's bullish call on higher-than-average rollover, with Q4 expected to showcase scalable margins from greenfield infrastructure orders; target Rs 6,550-6,600, stop loss Rs 5,950.
- Jindal Steel saw profit-taking with a 1% price decline despite 0.67% open interest rise; Kumar expects the uptrend to resume to Rs 1,220, with a buy zone of Rs 1,125-1,105 and stop loss at Rs 1,070.
- PG Electroplast was the lone bearish pick after hitting a fresh 52-week low of Rs 443.05; SBI's Shah flagged a breakdown from consolidation with a lower-high-lower-low pattern, recommending a sell at Rs 438-443 for a Rs 417 target.
Why it matters: The picks frame two distinct trades: metals plays (Hindalco, National Aluminium) ride global supply disruptions at EGA and Alba lifting LME aluminium benchmarks ahead of Q4, while PG Electroplast's 52-week-low breakdown stands alone as the only short. Retail traders get defined entry, target, and stop-loss levels on every name.
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