The Nifty 50 extended its winning momentum for a second consecutive session, surging 277 points to close at 23,689, while the BSE Sensex advanced 789.74 points or 1.06% to close at 75,398.72. According to reports from The Economic Times, the index rallied sharply but faced resistance near the previous congestion zone around 23,800, leading to a slightly lower closing. Rupak De, Senior Technical Analyst at LKP Securities, noted that the index continues to trade below the critical 20 EMA, indicating that the broader trend remains bearish. However, a decisive move above 23,800 could trigger fresh upside momentum, potentially taking the index towards 24,100 and higher levels. As per Bonanza Portfolio, analysts emphasize that failure to sustain above 23,800 may invite renewed selling pressure and bring bears back into control of the market. The India VIX ended at 18.61, down by 4.18% from the last closing, indicating reduced market volatility.
Zydus Lifesciences is recommended as a buy at ₹993 with an upside potential of 7% and target price of ₹1,063. As reported by The Economic Times, the stock has shown strong recovery after forming a broad consolidation base near the 850–870 zone, indicating accumulation at lower levels. Price action has moved above key short-term and medium-term moving averages, reflecting improving momentum and strengthening trend structure. The recent breakout above the falling trend line resistance near 980–990, supported by rising volumes, signals renewed buying interest with short-term EMAs trading above long-term averages. According to Bonanza Portfolio, RSI sustaining above the 60 mark highlights healthy momentum and bullish participation, with the stock likely to remain intact as long as it sustains above breakout levels.
Solar Industries India is recommended as a buy at ₹16,665 with an upside potential of 15% and target price of ₹18,330. According to The Economic Times, the stock has resumed its primary uptrend after successfully rebounding from the long-term support zone near 12,000–12,500, indicating strong buying interest at lower levels. Price action has decisively moved above key moving averages, while short-term EMAs are trading above long-term averages, reflecting improving momentum and bullish sentiment. The breakout above the 15,500–16,000 resistance zones confirms strength with rising volumes during the breakout phase supporting accumulation. As per Bonanza Portfolio, RSI sustaining above the 65 mark highlights healthy momentum, with the stock showing favourable upside potential in the near to medium term as long as it sustains above breakout levels.
Market breadth remained mildly negative despite the benchmark indices' gains, with 2,009 stocks witnessing advances against 2,196 declines out of 4,373 stocks traded on BSE. Among the most active stocks by value were Axis Bank (₹1,009 crore), MTAR Technologies (₹363 crore), HDFC Bank (₹349 crore), Bharti Airtel (₹299 crore), and Adani Enterprises (₹278 crore). Vodafone Idea led volume trading with 4.97 crore traded shares, followed by JP Power (1.6 crore), YES Bank (95.02 lakh), Axis Bank (80.98 lakh), and Suzlon Energy (65.50 lakh). As per Religare Broking, 114 stocks hit their 52-week highs while 53 stocks slipped to their 52-week lows, with notable highs including Acutas Chemicals, Adani Green Energy, HFCL, Hindalco Industries, and Vodafone Idea.
