Indian markets demonstrated strong resilience on Wednesday, with benchmark indices gaining over 1% amid encouraging quarterly earnings and sustained buying in IT heavyweights. According to reports from The Economic Times, the Nifty traded with a positive bias throughout the session and closed at 24,250 after a firm gap-up start. Market attention now focuses on the US Fed's policy decision due later tonight, with the widely expected pause in rates unlikely to materially impact Indian markets as it is mostly already priced in.
Lloyds Metals and Energy has confirmed a strong breakout above the upper boundary of its ascending consolidation pattern, supported by a notable rise in volumes indicating renewed buying interest. As reported by The Economic Times, the stock continues to trade well above its 20/50/100/200-day EMAs, reaffirming a strong primary uptrend, while RSI near 70 reflects robust momentum despite approaching the overbought zone. The recommendation includes a buying zone of ₹2,051, stop-loss at ₹1,940, and target of ₹2,150-2200.
Ashapura Minechem has given a breakout above the falling trendline after a prolonged consolidation, indicating renewed buying interest and a potential shift in market sentiment. According to The Economic Times, the stock is trading above all key moving averages (20/50/100/200 EMA) and reaffirms the medium-term bullish trend. The technical analysis shows RSI has turned higher above 55, reflecting improving momentum, with the recommendation including a buying zone of ₹708, stop-loss at ₹675, and target of ₹740-760.
The stock recommendations come from Virat Jagad, Sr Technical Research Analyst at Bonanza Portfolio, who identified these opportunities based on bullish technical breakouts, strong momentum, rising volumes and sustained strength above key moving averages. As reported by The Economic Times, these technical patterns suggest renewed buying interest and potential for continued upward movement in both stocks ahead of the US Fed decision.
