July 13, 2025

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Reliance Industries, Axis Bank, Hindustan Copper: 3 stocks to trade for short term

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Reliance Industries, Axis Bank, Hindustan Copper: 3 stocks to trade for short term

An analyst from Master Capital said that Reliance Industries has staged a breakout from a rising channel pattern, reinforcing the continuation of its upward trajectory.

Indian benchmark indices settled sharply higher on Thursday amid expiry of June series F&O contracts, supported by stability in the Middle East, eased down US dollar and low crude oil price. BSE Sensex soared 1,000.36 points, or 1.21 per cent, to settle at 83,755.87, while NSE’s Nifty50 soared 304.25 points, or 1.21 per cent to close at 25,549 for the day.

 

Prices of Axis Bank have witnessed a decisive breakout from a broad-based inverse head & shoulders formation, signaling a bullish trend reversal. This breakout is corroborated by a significant uptick in volumes, indicating accumulation by market participants. The price structure continues to exhibit a sequence of higher highs and higher lows, underscoring a well-established uptrend. The stock is trading above its 21- and 55-period exponential moving averages, affirming sustained momentum. A 60-level RSI and bullish crossover with positive divergence on the MACD further reinforce the strength of the breakout, suggesting continued relative outperformance ahead.

Disclaimer: Fortune Bath provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

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