Domestic equities ended higher on Wednesday, supported by positive Asian cues and a sharp drop in crude prices following improved traffic at the Strait of Hormuz, alongside growing expectations of an imminent India–US trade deal. Bond yields also sharply declined, supported by fresh capital inflows following the recent debt market policy reforms, as reported by The Economic Times.
TBO Tek has staged a strong reversal after breaking above its long-term moving averages and is now consolidating within the 1,430–1,510 range following a sharp upmove. According to Virat Jagad, Sr Technical Research Analyst at Bonanza Portfolio, the stock is trading above the 20, 50 and 100-day EMAs, while RSI near 70 reflects strong bullish momentum despite nearing overbought levels. The current consolidation appears constructive and suggests accumulation before the next leg higher.
Traders can consider a Buy on CMP of ₹1,512 and Add on Dips near ₹1,450–1,470, with a stop loss at ₹1,390. As reported by The Economic Times, a decisive breakout above ₹1,520 could trigger fresh buying momentum, paving the way for upside targets of ₹1,600 and ₹1,700 over the coming weeks, while the overall technical structure remains firmly positive.
Blue Jet Healthcare has confirmed a bullish breakout above the key 500–510 resistance zone, supported by strong price action and steady volumes, indicating renewed buying interest. According to the technical analysis, the stock is trading comfortably above its 20, 50, 100 and 200-day EMAs, reinforcing a strong medium-term uptrend, while RSI near 69 reflects healthy momentum without being excessively overbought. The breakout suggests the potential for further upside after a brief consolidation.
Traders can consider a Buy on CMP of ₹549 and Add on Dips near ₹520–525, with a stop loss at ₹495. As reported by The Economic Times, on the upside, the stock is likely to test ₹580 initially, followed by ₹620 over the coming weeks, as long as it sustains above the breakout zone. The recommendations come from technical analysts at Bonanza Portfolio and are based on current market conditions and technical indicators.
