Market benchmark Nifty 50 declined for the fourth consecutive session on Monday, 1 June, ending 0.70% lower at 23,382.60. Over these last four sessions, the index has shed nearly 3% as an elusive US-Iran peace deal, oil price volatility, and strong foreign capital outflow keep investors cautious. According to reports from Mint, experts from Master Capital Services and Choice Broking have identified five stocks with strong bullish indicators for short-term investment over the next 1-2 weeks.
As reported by Mint, US-Iran talks remain a key trigger for the market, while the RBI's monetary policy decision this week and its outlook on growth and inflation will also influence market sentiment. According to Vishnu Kant Upadhyay, AVP- Research and Advisory at Master Capital Services, the breach of the rising trendline below 23,600 has further weakened the chart structure and reinforced the bearish bias. The Nifty 50 continues to trade below its 21 EMA and 55 EMA, reflecting a negative short-term trend. Immediate support is placed at 23,280, below which the index may drift towards the 23,000 mark, while a decisive close above 23,760 is required to negate the prevailing weakness.
According to reports from Mint, Aegis Logistics is recommended with target prices of ₹850 and ₹880 and a stop loss at ₹718. The stock has witnessed a strong breakout above ₹745, completing an inverse head and shoulders pattern with significant volume increase. CG Power and Industrial Solutions is suggested with target prices of ₹970 and ₹1,000 and a stop loss at ₹840, having surpassed its previous lifetime high of ₹880. NBCC (India) is recommended with target prices of ₹114 and ₹119 and a stop loss at ₹97, having cleared historical resistance around ₹100. Shaily Engineering Plastics is highlighted with a target price of ₹3,442 and stop loss at ₹3,000, having delivered a decisive breakout above the ₹2,800 zone with nearly 17-18% rally in two sessions.
As reported by Mint, JBM Auto is recommended with a target price of ₹700 and stop loss at ₹616, showing renewed strength after taking support near its 50-day and 200-day EMA cluster. Aegis Logistics is also recommended by Choice Broking with a target price of ₹830 and stop loss at ₹740, having broken above its long-term descending trendline. The technical analysis indicates that these stocks are forming higher highs and higher lows, with improved volume participation around breakout areas, suggesting sustained upward momentum despite broader market weakness.
