According to Bajaj Broking's Pabitro Mukherjee, the broader market structure has turned constructive with dips likely to attract buying interest. The Nifty 50 extended gains for the second consecutive week, rising 0.77%, supported by easing geopolitical tensions and a sharp decline in crude oil prices, which have retreated to around $80 per barrel. The recent weekly expiry of Sensex showcased unexpected surges in the index and heightened options premiums, with substantial implied volatility spikes arising without impactful news. Markets were also reacting to the RBI's decision to keep the repo rate unchanged, creating a challenging environment for option writers while benefiting buyers.
As reported by Bajaj Broking, the immediate support for the index is placed in the 24,200–24,000 region, which acted as strong resistance during June and July. According to the principle of role reversal, this previous resistance is now expected to act as strong support on any corrective decline. The index has successfully reclaimed the 200-day exponential moving average for the first time since breaking below it on 27 February 2026, after nearly five months. A decisive monthly close above the March resistance zone would signal meaningful improvement and could pave the way for an extension towards 25,200–25,300 zone during August.
According to Bajaj Broking's analysis, Sun Pharma share price has registered a decisive breakout from a two-year consolidation pattern on the weekly chart, signalling the resumption of its long-term primary uptrend. The stock is recommended for buying in the ₹1,930-₹1,970 range with a target price of ₹2,250 and stop loss at ₹1,900. After the breakout, the stock has consolidated around ₹1,950 for two weeks, indicating healthy profit booking. The RSI has broken above its falling trendline and is sustaining above the 60 mark, while the MACD remains in positive territory with a bullish crossover.
Bharat Electronics (BEL) is recommended for buying in the ₹395-₹405 range with a target price of ₹465 and stop loss at ₹380. As reported by Bajaj Broking, BEL has undergone healthy correction after failing to sustain near its all-time high of ₹473 and is approaching a strong demand zone around the 38.2% Fibonacci retracement level. Sagility is recommended for buying in the ₹43-₹44 range with a target price of ₹54 and stop loss at ₹40, after delivering a breakout from a four-week consolidation pattern and sustaining above its 20-week EMA.
According to Bajaj Broking, Central Mine Planning and Design Institute (CMPDI) is recommended for buying in the ₹245-₹248 range with a target price of ₹269 and stop loss at ₹238. Despite witnessing a healthy correction after rallying nearly 85% from April lows to all-time high of ₹283.70, CMPDI has maintained its medium-term uptrend. The recent seven-week decline has been corrective in nature, with the stock breaking above the falling trendline drawn from July high, signalling positive shift in near-term trend. Momentum indicators are turning favourable with MACD on verge of bullish crossover and RSI breaking above falling trendline.
