The Indian equity markets experienced renewed pressure on Wednesday, with domestic equities coming under renewed pressure as escalating West Asia tensions drove crude oil prices sharply higher. According to The Economic Times, the pain was compounded by the rupee breaching the 96-per-dollar mark, fanning concerns over imported inflation and squeezing input costs across industries. Looking ahead, all eyes are now on the US Fed Chair, whose upcoming remarks could set the tone for global rate expectations. Nifty 50 remained range-bound after opening with a gap-down as the NSE weekly options expired, as noted by Rupak De, Senior Technical Analyst at LKP Securities. The index found support around the previous day's low while continuing to sustain above the falling trendline and holding above the critical 50 EMA, indicating underlying strength.
Despite market headwinds, technical analysts have identified four specific stock opportunities for Wednesday's trading session. As reported by The Economic Times, the recommendations include MosChip Technologies at ₹240.5 with a target of ₹255-270, Adani Green Energy targeting ₹1,700-1,800, Adani Power aiming for ₹235-245, and Azad Engineering positioned for ₹2,515-2,650. These technical calls are designed to help investors identify momentum opportunities even in volatile market conditions, with analysts noting that the outlook remains likely to remain positive as long as the index stays above 23,950, potentially advancing towards the 24,250–24,300 zone.
MosChip Technologies is displaying a classic trend reversal after completing a multi-month corrective phase, having broken above its falling trendline and crossed key Fibonacci retracement levels. According to The Economic Times, the stock has been supported by a sequence of higher highs and higher lows, reflecting improving buying interest with controlled volatility. Adani Green Energy continues to exhibit strong bullish structure, trading above its 20, 50, 100 and 200-day EMAs, indicating sustained buying momentum and breaking out above recent consolidation zones with improving volumes. Adani Power is among the stocks that witnessed strong buying interest from market participants, with the stock showing positive momentum in current trading sessions.
Kalyan Jewellers (₹5,037 crore), TCS (₹2,101 crore), HDFC Bank (₹2,079 crore), ICICI Bank (₹1,985 crore), Biocon (₹1,877 crore), Reliance Industries (₹1,752 crore) and Infosys (₹1,629 crore) were among the most active stocks on NSE in value terms. Higher activity in these counters can help identify the counters with the highest trading turnovers in the day. Vodafone Idea (29.01 crore shares), Kalyan Jewellers (9.58 crore), Yes Bank (6.18 crore), Adani Power (5.56 crore), IDBI Bank (5.28 crore), JP Power (4.71 crore) and Biocon (4.3 crore) were among the most actively traded stocks in volume terms on NSE. Among the stocks that hit their 52-week highs included Biocon, Welspun Corp, Adani Green Energy, Divis Labs, Adani Transmission, ACME Solar Holdings and JB Chemicals.
