Punjab National Bank, UPL, Dabur: How to trade these 3 buzzing stocks
An analyst from Axis Securities said that PNB has been consolidating within Rs 105-85 over the past 3-5 months, representing a short—to medium-term sideways trend.
- May 7, 2025,
- Updated May 7, 2025 7:39 AM IST
Indian benchmark indices settled slightly lower on Tuesday after the recent recovery, driven by cautious sentiments amid border tensions with Pakistan and US Fed's monetary policy due later this week. Muted Q4 earnings by India Inc also dented the sentiments. BSE Sensex dropped 155.77 points, or 0.19 per cent to settle at 80,641.07, while NSE's Nifty50 declined 81.55 points, or 0.33 per cent to end at 24,379.60 for the day.
Select buzzing stocks including Punjab National Bank (PNB), Dabur India and UPL are likely to remain under the spotlight of traders for the session today. Here is what Rajesh Palviya, SVP - Technical and Derivatives Research at Axis Securities has to about these stocks ahead of Wednesday's trading session:
UPL | Buy | Target Price: Rs 730-765 | Support: Rs 660-640
UPL is in a strong uptrend across all time frames, forming a series of higher tops and bottoms. It is sustained above its 20, 50, 100, and 200-day SMAS, and these averages are also inching up along with price rises, which signifies bullish sentiments. The stock is likely to extend its rally towards 730-765 levels. Conversely, the short-term support zone is placed at 660-640 levels.
Punjab National Bank | Caution | Resistance: 105-115 | Support: Rs 90-85
Over the past 3-5 months, PNB has been consolidating within Rs 105-85, representing a short—to medium-term sideways trend. The stock is sustaining below its 20, 50, 100, and 200-day SMA, which signifies a bearish bias. The daily, weekly, and monthly strength indicator RSI is in bearish mode, signaling a loss of strength. Traders and advisors are advised to adopt a cautious approach. The crucial support zone is around Rs 90-85 levels, whereas the crucial resistance zone is Rs 105-115.
Dabur India | Buy | Target Price: 540-560 | Stop Loss: Rs 460
Dabur has been maintaining medium-term horizontal support near Rs 430, in place since May 2020. The stock recently witnessed a sharp rebound from this key level, reaffirming its significance. It has also taken support at the 20-day SMA, suggesting renewed buying interest. Notably, the daily RSI is exhibiting a positive divergence—holding steady while price action forms lower lows—indicating a potential reversal and upside momentum in the stock. In upcoming sessions, if the stock sustains above Rs 520 levels, it may extend its up move towards Rs 540-560 levels. The crucial support zone at Rs 470-460 levels.
Indian benchmark indices settled slightly lower on Tuesday after the recent recovery, driven by cautious sentiments amid border tensions with Pakistan and US Fed's monetary policy due later this week. Muted Q4 earnings by India Inc also dented the sentiments. BSE Sensex dropped 155.77 points, or 0.19 per cent to settle at 80,641.07, while NSE's Nifty50 declined 81.55 points, or 0.33 per cent to end at 24,379.60 for the day.
Select buzzing stocks including Punjab National Bank (PNB), Dabur India and UPL are likely to remain under the spotlight of traders for the session today. Here is what Rajesh Palviya, SVP - Technical and Derivatives Research at Axis Securities has to about these stocks ahead of Wednesday's trading session:
UPL | Buy | Target Price: Rs 730-765 | Support: Rs 660-640
UPL is in a strong uptrend across all time frames, forming a series of higher tops and bottoms. It is sustained above its 20, 50, 100, and 200-day SMAS, and these averages are also inching up along with price rises, which signifies bullish sentiments. The stock is likely to extend its rally towards 730-765 levels. Conversely, the short-term support zone is placed at 660-640 levels.
Punjab National Bank | Caution | Resistance: 105-115 | Support: Rs 90-85
Over the past 3-5 months, PNB has been consolidating within Rs 105-85, representing a short—to medium-term sideways trend. The stock is sustaining below its 20, 50, 100, and 200-day SMA, which signifies a bearish bias. The daily, weekly, and monthly strength indicator RSI is in bearish mode, signaling a loss of strength. Traders and advisors are advised to adopt a cautious approach. The crucial support zone is around Rs 90-85 levels, whereas the crucial resistance zone is Rs 105-115.
Dabur India | Buy | Target Price: 540-560 | Stop Loss: Rs 460
Dabur has been maintaining medium-term horizontal support near Rs 430, in place since May 2020. The stock recently witnessed a sharp rebound from this key level, reaffirming its significance. It has also taken support at the 20-day SMA, suggesting renewed buying interest. Notably, the daily RSI is exhibiting a positive divergence—holding steady while price action forms lower lows—indicating a potential reversal and upside momentum in the stock. In upcoming sessions, if the stock sustains above Rs 520 levels, it may extend its up move towards Rs 540-560 levels. The crucial support zone at Rs 470-460 levels.