Market Trading Guide: ICICI Bank, DLF among 5 stock recommendations for Monday – Stock Ideas

The stock has dipped into the oversold zone on the hourly chart, as indicated by the RSI positioning. Additionally, the RSI is showing a bullish divergence on the hourly chart, hinting at a potential bullish reversal. Furthermore, the stock seems to be finding support around the previous congestion on the daily timeframe. Taken together, the technical setup implies a potential exhaustion of the current bearish trend and a forthcoming recovery in the near term.

(Rupak De, Senior Technical Analyst, LKP Securities)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)