The benchmark indices rallied 1 percent on July 29 after a day of consolidation, supported by favourable market breadth. According to reports from LKP Securities, about 1,879 shares advanced compared with 1,091 shares that declined on the NSE. Following this strong rally, the market is likely to witness consolidation, with investors closely tracking further developments in West Asia and movements in oil prices. The consolidation phase is expected to provide opportunities for selective stock picking based on technical analysis.
GAIL India has resumed its uptrend after emerging from a phase of downward consolidation, with the stock sustaining above the critical 50-week EMA and 200-week SMA. As reported by LKP Securities, the weekly RSI has re-entered a bullish crossover, suggesting strengthening momentum. The stock is likely to remain positive as long as it holds above ₹169, with the potential to move towards ₹185. Godrej Properties is comfortably sustaining above the critical 50-day EMA on the daily chart, with a target of ₹2,330 and stop-loss at ₹2,050. Mahindra and Mahindra Financial Services has formed a strong technical setup after breaking above its previous swing high, with buying recommended around ₹385 and target at ₹400.
Time Technoplast witnessed a symmetrical triangle breakout on July 15 and successfully retested the breakout zone, reaffirming the validity of the breakout. According to Jainam Securities, the RSI has rebounded after finding support near the 60 mark, indicating a revival in bullish momentum. The stock continues to trade above all key moving averages with accumulation recommended in the ₹214-218 zone and target at ₹230. HEG has witnessed a sharp recovery of nearly 32 percent since its low of ₹509 recorded on July 9, with the rising ADX indicating strengthening bullish trend momentum. The stock is recommended for accumulation in the ₹665-675 zone with target at ₹720.
Gland Pharma has resumed its upward trajectory after witnessing a healthy pullback towards its 34-day EMA, with the support zone coinciding with the 50 percent Fibonacci retracement. As reported by Jainam Securities, the DI lines have started to widen, indicating increasing dominance of buyers over sellers. The stock is recommended for accumulation in the ₹2,525-2,550 zone with target at ₹2,730. Bharti Airtel has witnessed a strong move after successfully clearing the ₹1,930-1,935 resistance zone, with the stock trading above key moving averages and the 20-DMA crossing above the 50-DMA. The stock is recommended for buying around ₹1,950 with target at ₹1,995.
Indigo Paints has witnessed a bullish breakout from a symmetrical triangle formation, with the stock comfortably placed above its key moving averages and the 20-DMA leading the 50-DMA. According to Jainam Securities, the RSI has turned upward and is holding above the 60 level, reflecting improving buying momentum. The stock is recommended for buying around ₹1,102 with target at ₹1,180. Uniparts India has confirmed a bullish breakout from an ascending triangle continuation pattern, moving decisively above the key resistance zone around ₹700 after several weeks of consolidation. The breakout was accompanied by strong bullish candle formation and increased trading volumes, indicating strong institutional participation.
