The June 2026 quarter earnings season has delivered encouraging results with 59.0% of the 964 companies declaring results reporting positive outcomes, marking a notable improvement from the preceding quarters. According to MarketsMojo, large, mid, and small-cap stocks alike have contributed to this upswing, with standout performances from sectors such as non-ferrous metals, telecom equipment, and specialty chemicals driving aggregate profit growth. This week's market activity was marked by a significant surge in delivery-based trading volumes, signalling robust institutional participation across multiple sectors. Despite the absence of extreme accumulation or distribution patterns, a balanced interplay between buyers and sellers prevailed, reflecting a cautious yet engaged market sentiment.
Bajaj Finance has witnessed a strong bullish breakout backed by robust trading volumes, reflecting renewed buying interest and improving market sentiment. As reported by Bonanza, the stock is trading comfortably above its key moving averages, indicating that the primary trend remains firmly positive. The recent price action suggests sustained momentum, while the RSI remains in the bullish zone, highlighting strengthening buying pressure despite being near overbought levels. The breakout from a prolonged consolidation phase signals the potential for further upside as buyers continue to dominate, supported by the broader positive earnings momentum across financial services sector.
Concord Biotech has delivered a strong bullish breakout above the key resistance zone near ₹1,340 with a wide-range bullish candle supported by healthy volume, indicating strong participation. According to Bonanza, the stock is trading above its short-term moving averages, while the RSI has surged to around 69, reflecting strengthening momentum without entering an extremely overbought zone. After forming a higher low structure over the past few weeks, the breakout suggests buyers have regained control and the prevailing uptrend is likely to continue, supported by the positive earnings momentum in the pharmaceutical sector.
Nelco has exhibited a strong bullish breakout with a wide-range green candle accompanied by a significant rise in trading volume, indicating renewed buying interest and improving investor confidence. As reported by Bonanza, the stock has regained momentum after a prolonged consolidation phase and is now trading above its key moving averages, reflecting a positive trend across multiple time frames. The recent price action suggests that buyers are firmly in control, while the RSI remains in the bullish zone, highlighting sustained momentum despite approaching overbought territory, supported by the broad-based recovery across market capitalisations.
According to technical analysis by Bonanza, all three stocks show constructive technical setups with positive medium-term outlooks. Bajaj Finance is recommended as a buy with a target of ₹1,300 and stop-loss at ₹1,060, while Concord Biotech carries a target of ₹1,640 with stop-loss at ₹1,330. Nelco is recommended as a buy with a target of ₹1,170 and stop-loss at ₹937. The positive earnings momentum across sectors provides additional support for these recommendations, with the broader market showing Sensex gaining 166.49 points (0.21%) to settle at 78,094.64 and Nifty50 advancing 66.45 points (0.27%) to 24,383.60 on July 31, 2026.
