Ather Energy shares jumped 5.5% to a one-year high after Delhi approved its EV Policy 2.0, significantly boosting the electric vehicle adoption outlook. The policy earmarks ₹15,000 crore over the next four years to promote electric mobility and reduce vehicular pollution. Under the new framework, buyers of electric two-wheelers will receive subsidies of ₹30,000 in the first year, ₹20,000 in the second year and ₹10,000 in the third year. The policy also includes ambitious transition plans, with only electric autorickshaws to be registered in Delhi from January 1, 2027, and registrations of new petrol, diesel and CNG-powered two-wheelers discontinued from April 1, 2028.
The benchmark indices witnessed a one-third of a percent correction on June 30, but market breadth turned positive with 1,634 shares advancing against 1,357 declining shares on the NSE. According to reports from Moneycontrol, the market is likely to remain range-bound as long as it trades below the previous week's high. Technical analysts recommend short-term trading strategies for select stocks across different sectors.
Alembic Pharmaceuticals, trading at ₹822.75, has emerged as a strong performer in the pharma sector despite broader market profit booking. As reported by Moneycontrol, the stock surged nearly 5 percent in the previous session and has been forming a rounding bottom pattern since May 15. The stock finally broke above the key neckline at ₹809, indicating strong buying interest from lower levels. Technical analysts recommend buying on dips towards ₹809-815 with targets of ₹840 and ₹880, while key support is placed around ₹765.
GMR Airports, trading at ₹112.09, has demonstrated strong bullish momentum with higher highs and higher lows over the past three months. According to technical analysis from Moneycontrol, the stock rallied 2.4 percent in the previous session and decisively surpassed the prior swing high of ₹111.15. The ADX indicator is trading near 31, comfortably above the key 25 mark, suggesting the ongoing upmove is gaining strength. A sustained move above ₹113.50 could accelerate the rally towards ₹118 and ₹122, with immediate support expected at ₹108.
Ather Energy, trading at ₹1,144 (up 5.5%), has been making new lifetime highs over the past two trading sessions, indicating strong relative outperformance. The stock has taken support from the 40-period SMA at the start of this week and volumes have been the highest since June 3. However, oscillators such as RSI have moved close to the overbought zone. Technical analysts recommend buying minor dips towards ₹1,100-1,120 range with upside targets of ₹1,180-1,200, as long as ₹1,055 remains protected on the downside.
Additional trading recommendations include Gujarat Fluorochemicals (₹3,964) with a target of ₹4,350 and Mankind Pharma (₹2,545.6) targeting ₹2,750. According to technical analysis from Emkay Global Financial Services, Gujarat Fluorochemicals witnessed a breakout above an 80-week falling trendline while Mankind Pharma showed a strong rebound from support with bullish flag pattern formation. Meanwhile, Punjab National Bank (₹106.69) faces selling pressure with targets at ₹96 due to bearish continuation setup.
