According to The Times of India, the Nifty hit a close at a 10.5 month low as the index has adapted a range between 23,700 – 24,300 broadly. Any close below 23,700 could allow for fresh 400-500 additional downside while a sustained upside opens only on closing above 24,300 as a number. Given the surge in India VIX above 20 readings this week, it indicates a daily trading range on Nifty to be northwards of 300 points, indicating that the ongoing volatility is here to stay.
As reported by The Times of India, Bank Nifty ended 3.5% lower so far this week as the index has been underperforming Nifty from the start of this month and this week. Given the weight adjustments taking place in frontline private banks and panic profit taking triggered in PSU names, Bank Nifty has slipped below its 200 DMA after a gap of 11 months. The recent gap below 200 DMA is likely to remain a resistance/supply zone for the immediate short term on the index, with downside levels expected towards 54,600.
According to The Times of India, INOX India is recommended as a BUY with a LCP of ₹1,193, stop loss at ₹1,125, and target of ₹1,288. The analyst notes that trendline breakout, clubbed with a bullish cup and handle and a bullish pole and flag pattern are setting a stage for the next leg up move. TVS Motor Company is recommended as a SELL with a LCP of ₹3,600, stop loss at ₹3,780, and target of ₹3,370. The stock has broken down from a 7 month rising trendline which remained unscathed in TVS Motor's outperformance since July 2025.
As reported by The Times of India, Apollo Hospitals Enterprise is recommended as a BUY with a LCP of ₹7,684, stop loss at ₹7,475, and target of ₹8,300. The analyst notes that unscathed with the ongoing correction across global equities, hospitals have not seen any price correction as this sector has been independent of any global chaos or AI threats. Flows exiting from challenged sectors are finding their map to hospital stocks and Apollo Hospitals is showing strong price current to breakout into fresh all-time highs.
