Trade Spotlight: How should you trade Oberoi Realty, LIC Housing, RCF, Signature Global, Valor Estate, Brigade Enterprises and others on June 4?

After a remarkable up move over the last few weeks, Oberoi Realty witnessed consolidation near the resistance zone. However, the stock comfortably closed above its breakout zone, signaling a bullish continuation chart structure. This suggests that the uptrend is likely to persist. For the next few trading sessions, Rs 1,730 could act as the trend-deciding level for the bulls. If the stock sustains above this level, a further uptrend toward Rs 1,920 is expected.

Strategy: Buy

Target: Rs 1,920

Stop-Loss: Rs 1,730

State Bank of India | CMP: Rs 809.8

SBI has shown a robust rally from lower levels in recent sessions and is currently trading in an ascending triangle chart formation. This pattern indicates the potential for a breakout, paving the way for a new leg of up move from current levels. For positional traders, Rs 780 would be the decisive level. Trading above this level would suggest continuation of the uptrend toward Rs 865. However, a close below Rs 780 may prompt traders to exit long positions.

Strategy: Buy

Target: Rs 865

Stop-Loss: Rs 780

LIC Housing Finance | CMP: Rs 608.1

LIC Housing Finance has given a breakout from its symmetrical triangle chart pattern, confirmed by a bullish candlestick formation and increased volume activity. On both daily and weekly charts, the stock has formed a series of higher bottoms, further supporting a bullish outlook. Unless it trades below Rs 585, positional traders can maintain a positive stance and target Rs 650 in the near term.

Strategy: Buy

Target: Rs 650

Stop-Loss: Rs 585

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

Great Eastern Shipping | CMP: Rs 976.6

Great Eastern Shipping has been in a larger consolidation phase over the past few months, forming a bullish chart pattern with higher tops and bottoms. The stock is now attempting an upside breakout of the 200-day EMA hurdle around Rs 990–1,000 levels. Volume expansion during this breakout, along with a positive signal from the 14-day RSI, indicates potential for further upside.

Strategy: Buy

Target: Rs 1,085

Stop-Loss: Rs 925

Rashtriya Chemicals and Fertilisers | CMP: Rs 160.32

RCF, a fertilizer stock, had been in a minor downward correction recently. On Tuesday, it witnessed a decisive breakout from its trading range and closed higher. The stock broke out near the crucial support of the 200-day EMA. Volume and RSI trends support the likelihood of more upside in the near term. The overall chart pattern suggests a long trading opportunity, and one may look to buy based on levels mentioned above.

Strategy: Buy

Target: Rs 175

Stop-Loss: Rs 151

Signature Global India | CMP: Rs 1,258.7

Signature Global has been showing strong upside momentum over the past few months, forming a bullish pattern of higher tops and bottoms. The key resistance at the 200-day EMA was recently surpassed, and the stock is currently attempting to break above a downward-sloping trendline hurdle near Rs 1,270. Volume and RSI patterns are showing a positive bias, indicating further bullish potential.

Strategy: Buy

Target: Rs 1,385

Stop-Loss: Rs 1,190

Ashish Kyal, CMT, Founder and CEO of Waves Strategy Advisors

Valor Estate | CMP: Rs 205.74

In the previous session, Valor Estate gained more than 2 percent. On the daily chart, the stock had been forming a classic Inverse Head and Shoulders pattern since October 2024. In the last session, it gave a breakout above the neckline at Rs 202, supported by a noticeable increase in volumes—adding conviction to the breakout.

Additionally, the stock recently witnessed a Golden Crossover, where the 50-day EMA crossed above the 200-day EMA, which is a strong bullish signal. The RSI reading at 72 suggests there is still room for further upside momentum.

The first target based on the right shoulder projection comes near Rs 250 as a medium-term goal.

In summary, the current trend is positive. A decisive break above Rs 210 can move the stock price toward Rs 221, followed by Rs 235. On the downside, Rs 198 is the nearest support level to monitor.

Strategy: Buy

Target: Rs 221, Rs 235

Stop-Loss: Rs 198

Brigade Enterprises | CMP: Rs 1,231.9

In the previous session, Brigade Enterprises rallied more than 4 percent, supported by a rise in volumes—indicating strong buying interest. On the daily chart, the stock has formed a classic Rounding Bottom pattern, a bullish reversal structure. It gave a breakout above Rs 1,226 in the previous session.

Over the last five trading sessions, prices have consistently protected the previous candle’s low on a closing basis, further confirming buyer dominance.

The Base Line (red line) of the Ichimoku Cloud acted as a key support during the recent up move, reinforcing the bullish trend. Moreover, the ADX (Average Directional Index) stands at 27, above the threshold of 25, suggesting the momentum is strong and likely to continue.

In summary, the current trend is bullish. A decisive break above Rs 1,240 could push the stock higher toward Rs 1,290, followed by Rs 1,350. On the downside, Rs 1,190 is the nearest support level.

Strategy: Buy

Target: Rs 1,290, Rs 1,350

Stop-Loss: Rs 1,190

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