The Indian stock market remained closed on Friday, 26 June for the Muharram holiday, with trading in equities, equity derivatives, and securities lending and borrowing (SLB) suspended on both BSE and NSE. According to reports from LiveMint, ahead of the holiday, Indian benchmark indices extended their winning streak to a third consecutive week, marking the longest in seven months. The Nifty 50 closed at 24,056, gaining 0.14%, while the BSE Sensex ended at 77,100.47, also up 0.14%. For the week, the Nifty 50 advanced 0.2% and the Sensex added 0.4%, boosted by easing crude oil prices and supportive measures for the rupee.
As reported by LiveMint, Axis Securities' SVP - Technical and Derivatives Research Rajesh Palviya noted that the Nifty 50 closed at 24,056, marking a gain of 34 points. The index opened positively and touched an intraday high of 24,262 before witnessing selling pressure in the final hour. For bulls to regain control, the index needs to decisively close above Thursday's high of 24,262, which could pave the way for a move toward the upper Bollinger Band near 24,365. On the downside, 24,000 and 23,800 remain crucial support levels, and holding above these zones is essential to maintain the positive undertone.
According to LiveMint, Axis Securities recommends JSW Infrastructure Ltd at ₹331 as a buy for next week. The stock demonstrates a robust, sustained uptrend marked by higher highs and lows on daily and weekly charts, trading above its upward-sloping 20-, 50-, 100-, and 200-day simple moving averages. As the price approaches a critical multi-month resistance zone between 345 and 355, a decisive breakout could drive the stock toward an upside target of 370-400. The stock shows favorable RSI across all timeframes and Bollinger Band buy signals, with downside support at 318 to 310 levels.
As reported by LiveMint, Axis Securities recommends Ind-Swift Laboratories Ltd at ₹201 with an expected upside of 215-230. The stock exhibits strong bullish momentum, having confirmed a rounding bottom breakout at 187 on the weekly chart with massive trading volume. The stock trades above its 20-, 50-, 100-, and 200-day simple moving averages, all trending upward alongside price action. Broad-based strength is highlighted by favorable RSI across daily, weekly, and monthly timeframes, with active Bollinger Band buy signals on both weekly and monthly charts. The downside support zone is identified at 189-180.
According to LiveMint, Axis Securities recommends Welspun Living Ltd at ₹167 with an expected upside of 180-200. The stock has decisively surpassed the horizontal channel breakout at 155 level with high volume, confirming increased participation. The weekly and monthly Bollinger Band buy signals show increased momentum, with the stock well above its 20-, 50-, 100-, and 200-day simple moving averages that are trending upward alongside price rise. Daily, weekly, and monthly RSI indicators are in favorable territory, with downside support at 155-160 levels.
