The Nifty experienced a sharp decline on Friday, with broad-based selling impacting auto, financials, and FMCG stocks. According to The Economic Times, the index has fallen below key short-term moving averages and the 200-day DMA, signaling continued weakness. Rupak De, Senior Technical Analyst at LKP Securities, noted that the index has also slipped below the 200-day moving average (DMA), signalling continued weakness in the near term. The RSI indicator has turned sharply bearish, with the index likely to remain under selling pressure in the short term.
As reported by The Economic Times, technical analysts suggest immediate support at 25,000 and resistance at 25,370. De from LKP Securities identified immediate support at 25,000 and 24,750, while resistance is seen at 25,370. The index has declined steeply after remaining below its key short-term moving average for three consecutive sessions, with the IT sector witnessing selective buying amid the broader market weakness.
According to The Economic Times, RR Kabel is recommended for purchase at ₹1,562 with an upside potential of 6%. The technical analysis by Drumil Vithlani from Bonanza Portfolio shows the stock demonstrating a bullish continuation setup on the weekly timeframe. Price has broken above a multi-month consolidation zone near ₹1,520–₹1,550, confirming a range breakout. The stock is trading above its 20/50/100/200 EMAs, indicating strong trend alignment with medium-term bullish structure.
As reported by The Economic Times, Siemens Limited is recommended for purchase at ₹3,418 with an upside potential of 6%. The technical analysis by Drumil Vithlani from Bonanza Portfolio indicates the stock has given a fresh breakout on the daily chart, closing decisively above recent swing highs with strong bullish momentum. The price is trading above its 20/50/100/200 EMAs, indicating a well-established uptrend with RSI hovering near the 65 zone.
According to The Economic Times, RR Kabel has a stop loss below ₹1,515 with a target of ₹1,655. Siemens has stop loss levels at ₹3,315–₹3,330 with targets of ₹3,590–₹3,620. The recommendations are based on technical analysis showing bullish continuation patterns and breakout formations in both stocks, with volume expansion on breakouts strengthening the technical moves.
