Important Update by various Brokerages on stocks available at a great discount

: Potential for Further Upside ICICI Bank Ltd is currently trading at Rs 1,254 after correcting nearly 12 per cent from its recent swing high over the past two months. The stock has maintained a strong long-term uptrend, forming higher highs and higher lows within a Rising Channel on the weekly timeframe. It has shown signs of reversal by rebounding from the lower boundary of this channel, indicating the potential for further upward momentum. Key resistance levels and upside targets are identified at Rs 1,380 and Rs 1,445. On the downside, strong support is evident around Rs 1,190. ICICI Bank has bounced from its medium-term 50-day EMA and is currently trading near its short-term 20-day EMA. A sustainable move above these levels would further confirm bullish strength and a continuation of the uptrend. : Primed for Short Covering Axis Bank Ltd has bounced up in the last two weeks to start sustaining above its 8-day EMA. The recent up move has been on the back of higher than average traded volume and delivery volume. The series has a cumulative future open interest of 111.3 million shares as against last 3-series average of 69.1 million shares as observed on the day of inception. With open interest on the higher side, we expect further short covering to prevail. The stock has underperformed the Nifty and Nifty Bank by 3 per cent each on a quarter-to-date basis. The stock has relatively strong seasonality in the 2nd quarter of the calendar year with the bottom formation in the first quarter. In the last 10 years, the stock has closed in the green in the second quarter on 8 occasions with an average return of 6 per cent. Note : Make sure to follow risk management and position sizing at all times