Technical analyst Sudeep Shah of SBI Securities has shared his trading ideas for the day, focusing on two prominent companies: Axis Bank and Dalmia Bharat.

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Shah’s first buy call is on Axis Bank. He highlighted that the stock has experienced significant underperformance during the first half of the year. Since November and December of the previous year, the stock has witnessed a period of underperformance, retesting levels around Rs 840-850. However, recent days have seen a notable surge in volumes and a rise in open interest, indicating renewed interest from investors.

Remarkably, Axis Bank is now approaching its all-time high. Shah suggests that even at the current levels, the stock could present a buying opportunity. He advises a stop loss at Rs 940 and a target of Rs 1,000. This signifies potential growth from the current position, considering that Axis Bank has already gained over 9 percent in the past month.

Shifting focus to the cement industry, Shah mentions the outperformance of cement stocks in recent days. Specifically, he draws attention to Dalmia Bharat, a company that has been experiencing a structural uptrend. Shah notes that every significant dip in the stock has been promptly bought, indicating strong investor confidence.

Over the past few days, Dalmia Bharat has been consolidating between Rs 2,100 and Rs 2,140. However, today's trading session reveals a mini breakout from this consolidation phase. Shah believes this could signal a potential upward movement in the stock. With that in mind, he suggests buying Dalmia Bharat at current levels with a stop loss at Rs 2,120 and a target of Rs 2,230. The stock is up more than 3 percent in the last month.

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