As reported by Live Mint, Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, believes the 50-stock index may not break below its current major support level of 24,050 and recommends buying these four stocks: BEL, Kaynes Technology, BEML, and UNO Minda. According to Dongre, the broader market structure remains constructive, and the ongoing pullback appears to be a healthy retracement rather than a reversal of the broader uptrend. He maintains a bullish stance and expects the index to regain momentum on a sustained move above 24,500, which could gradually pave the way towards 25,000 and higher levels in the coming weeks. This recommendation comes as India's Sensex has delivered an extraordinary 8,500% gain since the 1991 economic reforms, compounding at about 14% annually over less than 35 years. However, the latest market data shows the Nifty 50 closed at 24,366, registering a weekly decline of 0.83%, while the Sensex slipped 0.62% to end at 78,009.25 during the week.
As reported by Live Mint, BEL shares remain one of the stronger names to track from the defence and electronics space from a technical perspective. The key feature to watch is whether the stock continues to maintain a higher-high and higher-low structure on the daily chart. To sustain strong momentum, the price should remain above its short-and medium-term moving averages, with RSI sustaining above the 50 level. A breakout from the price level of ₹345, accompanied by higher volume and the recent consolidation range, would provide stronger confirmation of the next leg of the uptrend, with a target price of ₹450-₹500. The stock can be viewed as a momentum-continuation candidate, with emphasis on breakout confirmation rather than chasing the stock after a sharp move.
According to Live Mint, Kaynes Technology's share is an interesting technical setup because the stock has experienced significant volatility and correction, but the longer-term structure is showing signs of stabilisation. Current technical data show the stock trading around ₹3,800, with the 200-DMA at ₹3,507, indicating that long-term trend support remains relatively important. At the same time, the 50-DMA is around ₹3,777, making the ₹3,750–₹3,800 range an important short-term pivot. From a technical perspective, a sustained move above the recent support zone at ₹2,800, with improving volume and RSI, would strengthen the bullish case for a target price of ₹4,800-₹5,000. The latest recommendation includes Kaynes Technology India as a buy at ₹3,660 with a target price of ₹3,950 and stop loss of ₹3,580.
As reported by Live Mint, BEML shares remain an important stock on the technical watchlist because of its exposure to the defence, railway and infrastructure themes. From a chart perspective, it is currently in a sideways, bullish constructive pattern after its recent correction. A move above ₹2,050, the previous swing high, supported by increasing volume, would indicate that buyers are regaining control. If this sequence develops, BEML could enter a new phase of momentum. Until the breakout is confirmed, however, it is better treated as a breakout candidate rather than a confirmed momentum buy with a stop loss of ₹1,450 for the target price of ₹2,200.
According to Live Mint, UNO Minda is currently one of the cleanest technical structures among the recommended stocks. The latest data show the stock trading around ₹1,240, above its 20-, 50-, 100-, and 200-day EMAs, indicating a positive trend configuration. The stock is indicating bullish momentum without being in an extreme overbought zone, with MACD also bullish while ROC indicates an accelerating uptrend. The immediate resistance zone is around ₹1,257–₹1,275, followed by ₹1,285. A sustained breakout above ₹1,275–₹1,285, with strong volume, could signal the continuation of the upward move. On the downside, ₹1,220–₹1,200 becomes an important support zone for the target price of ₹1,400-₹1,500. The latest recommendation includes UNO Minda as a buy at ₹1,3830 with a target price of ₹1,4300 and stop loss of ₹1,3500.
As reported by Live Mint, the Indian stock market closed the week on a weaker note, pressured by elevated crude oil prices, renewed geopolitical concerns and mixed global signals, which kept investor sentiment cautious. During the week, the Sensex slipped 0.62% to end at 78,009.25, while the Nifty declined 0.83% to 24,366. The broader market delivered mixed performance, with the MidCap index rising 0.50%, whereas the SmallCap index fell 0.66%. According to Dongre, the Nifty continues to maintain a constructive medium-term structure after successfully defending the 23,800 support zone, with the index expected to remain broadly within the 23,800–24,800 range. He emphasizes that investors should continue to closely monitor developments in the Middle East and movements in Brent crude oil prices, as any escalation in geopolitical tensions could significantly impact the Indian equity market in the near term.
