Indian equities witnessed broad-based buying on Monday, with benchmark indices rising over 1%. According to reports from LiveMint, the Sensex rallied nearly 1,000 points to hit an intraday high of 76,387, while the Nifty 50 climbed more than 1% to touch 23,996 during the session. The broader market also participated in the rally, with the BSE 150 Midcap and BSE 250 Smallcap indices advancing around 1% each. The sharp upmove added nearly ₹5 lakh crore to investor wealth, as the combined market capitalisation of BSE-listed companies increased to about ₹468 lakh crore from approximately ₹463 lakh crore in the previous trading session.
As reported by LiveMint, Nifty 50 has broken out of the 23,400–23,800 consolidation band and is sustaining above that range, now approaching its 50-day exponential moving average near 24,000. Vinay Rajani, Senior Technical and Derivative Analyst at HDFC Securities, noted that a clean breach and hold above 24,000 would strengthen the near-term bullish case. Domestic underperformance versus global equities has been driven by FII outflows, rupee weakness and elevated crude prices, but positive geopolitical developments have eased risk-off sentiment. Immediate support is the prior resistance at 23,800, with tactical support around 23,500, while near resistance sits at 24,000, followed by 24,350 and 24,600.
According to HDFC Securities analysis reported by LiveMint, L&T Finance share price has formed a bullish 'hammer' candlestick pattern at its 200 DEMA and gap support. The stock is trading above all medium- to long-term moving averages, with indicators and oscillators showing strength on short-term charts. The recommendation includes buying L&T Finance at ₹279 with a stop-loss at ₹267 and target at ₹292. Ratesensitive sectors such as banking, financials, autos and realty are showing early bullish traction and could lead the next leg higher if momentum broadens.
As reported by HDFC Securities and covered by LiveMint, Sandur Manganese share price has broken out of a bullish inverted head-and-shoulders pattern on the weekly chart. The stock price rises are accompanied by increased volumes, with the weekly RSI sustained above 50 and the weekly MACD above the equilibrium and signal lines. The recommendation includes buying Sandur Manganese & Iron Ores at ₹235 with a stop-loss at ₹206 and target at ₹271. For short-term traders, consideration is advised on a pullback to 23,800–23,500 with a stop just below 23,500 and targets near 24,000–24,350.
