The Nifty closed at 25,776, marking gains for the second consecutive day despite significant weakness in the IT sector. According to The Economic Times, the index's gap-down opening followed by sideways trading indicated initial hesitation among participants. However, the index staged a recovery in the latter half of the session, reflecting buying interest at lower levels and underlying resilience. The RSI stands at 54.61 and remains in uptrend while staying below the strong bullish zone. As per The Times of India, the Nifty's ability to close in green despite all IT stocks bleeding red is a rare occurrence and probably signals a bull comeback attempt, particularly as the India-US trade deal uncertainty has been resolved.
Blue Star is recommended for purchase at ₹1,840-1,860 with an upside target of ₹1,950 and stop-loss at ₹1,800. As reported by The Economic Times, the stock is showing a strong bullish breakout on the daily chart, with buying recommended on a mild pullback toward the breakout area. The recommendation is supported by strong volume expansion, price moving above key moving averages, and RSI holding above 60, indicating momentum with the bulls. Kirloskar Oil Engines is suggested for purchase at ₹1,220-1,240 with an upside target of ₹1,300 and stop-loss at ₹1,160. According to the analysis, the stock is showing a fresh bullish breakout from a falling trend line, backed by improving RSI near the 60 zone and price reclaiming short-term moving averages.
Commenting on current trends, Hitesh Tailor, Research Analyst at Choice Equity Broking noted that the index's gap-down opening and sideways trade indicates initial hesitation and lack of strong directional conviction among participants. As reported by The Economic Times, the index staged a recovery in the latter half of the session and finally closed around 25,776, reflecting buying interest at lower levels. The immediate resistance is placed at 25,900-25,950, while support is identified at 25,600-25,650. According to The Times of India, the correction in valuations means mid-cap stocks have higher probability of getting street attention, and the bulls are making a comeback attempt after the India-US trade deal resolution.
