According to The Economic Times, Geojit's Anand James expects the Nifty to stabilize despite ongoing volatility, with potential movement toward 25,600. The index ended the week little changed as it flip-flopped between red and green, with a doji formation on Friday carrying a long lower wick. This suggests bulls have regrouped after weak signals from oscillators at the start of the week. However, VIX continues above 18, indicating that volatility and wider trading ranges may persist.
As reported by The Economic Times, derivatives data indicates continued weakness in Bank Nifty and PSU Banks. Nearly 70% of Bank Nifty stock futures and most PSU Bank futures saw fresh short additions on Friday and weekly basis. Additionally, around 70% of near OTM and ITM call option strikes across Bank Nifty and PSU Bank constituents witnessed short buildup, suggesting traders are positioned for further downside. A head and shoulder pattern in daily charts points to more downsides, though a doji formation following a test of April lows indicates regrouping of bulls.
According to The Economic Times, Time Technoplast has staged a strong rebound from the recent swing low near the 175-180 zone and is trading above key short-term supports. The stock has reclaimed the 190-195 resistance band, indicating improving price structure. Technical indicators support the bullish outlook with RSI trending higher and remaining above the neutral zone, while MACD has posted a positive crossover, suggesting strengthening bullish momentum. The target is set at 204 with a stop loss at 187.
As reported by The Economic Times, Shyam Metalics is showing a constructive technical setup after sustaining above the 800-820 support zone, which has acted as a strong demand area in recent months. The stock has formed a higher low on the daily chart, indicating improving trend structure. Technical indicators are turning supportive with RSI stabilizing above the midline and MACD witnessing a positive crossover, suggesting strengthening upside momentum. The target is set at 1020 with a stop loss below 815.
According to The Economic Times, Cohance Lifesciences emerged as a top gainer with 33% gain during the week. The stock has more steam left until 632, the 200-day SMA, given the presence of several continuation patterns. However, with multiple closes near or above the upper bollinger band, fresh entries may be delayed. Vedanta saw both demerger and Q4 earnings announcement, with the key support of 267 intact despite Friday's decline.
