IRCTC, Piramal Ent, Delta Corp among 6 stocks that can jump 8-23% in the next 3-4 weeks; do you own any?

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₹1,140. However, it subsequently endured a substantial downturn, plummeting by almost 300 points, constituting a significant 26 per cent decline. Presently, the stock seems to have discovered a level of support within the bracket of ₹840-900, suggesting a potential stabilization in its price movement.

Notably, recent market observations have unveiled the formation of a double bottom pattern on the daily chart, accompanied by bullish divergence—a promising indication for traders. This confluence of technical signals presents an enticing opportunity for market participants. "Traders are advised to contemplate initiating long positions within the range of ₹915-935.

The anticipated target for this bullish trade is positioned at ₹1,055, representing a potential upside opportunity. To manage risks effectively, it is recommended to set a stop loss level at ₹860, to be evaluated based on daily closing prices," said Patel. Last month, Oberoi Realty demonstrated a commendable consolidation phase in the range of ₹1,280 to ₹1,345, coinciding with its 100-day exponential moving average (DEMA).

However, recent developments have marked a significant shift in market dynamics. The stock has decisively broken out of this consolidation range, marking a notable departure from the previous trading pattern. Furthermore, it has breached the bearish trendline that persisted over the last two months.

Technical indicators are aligning favourably with this bullish sentiment. The daily stochastic oscillator has undergone a bullish crossover and rebounded from the 40 level, suggesting a reversal of momentum to the upside. This confluence of factors indicates a potential for sustained bullish momentum in the forthcoming week.