The market is expected to trend higher amid range-bound trading, though the sustainability of higher levels will be key to watch. According to reports from LKP Securities, equity benchmarks closed moderately higher after a phase of consolidation on July 15, with market breadth favouring the bulls. About 1,616 shares witnessed buying interest, while 1,353 shares came under selling pressure on the NSE. The overall technical structure remains constructive, suggesting the market is well-positioned for further gains.
ICICI Prudential Life Insurance Company has risen above its previous swing high on the daily timeframe, indicating an improving bullish sentiment. As reported by LKP Securities, the price has reclaimed 50EMA, confirming an uptrend with momentum indicators further reinforcing the bullish outlook. The stock is recommended as a buy with target of ₹560 and stop-loss at ₹507. Similarly, L&T Technology Services has given a falling channel breakout following a decent correction and risen above the critical 50-day Exponential Moving Average. The stock is recommended as a buy with target of ₹3,900 and stop-loss at ₹3,300.
Gabriel India has given a consolidation breakout on the daily chart, indicating a resumption of uptrend after a healthy pause. According to SBI Securities, the stock appears well-positioned for a meaningful upmove with the potential to rally towards ₹1,500 in the near term. The stock is recommended as a buy with target of ₹1,500 and stop-loss at ₹1,280. Endurance Technologies is on the verge of giving breakout from a symmetrical triangle pattern, with momentum strengthening meaningfully as the RSI breaks out of a prolonged sideways phase and sustains above the 60 mark. The stock is recommended as a buy with target of ₹2,950 and stop-loss of ₹2,640.
ABB India is on the verge of a consolidation breakout with sharp surge in trading volumes on Wednesday, even before the actual breakout materialized. As reported by Jainam, the momentum has strengthened considerably with RSI surging from 42 to 59 in just six trading sessions. The stock is recommended as a buy with target of ₹7,730 and stop-loss of ₹6,935 in the zone of ₹7,150-7,225. Aarti Industries has confirmed a breakout from an Inverse Head & Shoulders pattern with decisive crossing of neckline resistance near ₹495-500 zone. The stock is recommended as a buy with target of ₹540 and stop-loss of ₹474.
Emami Paper Mills has shown significant improvement by closing above key horizontal resistance after several weeks of consolidation, backed by above average trading volumes. According to Jainam, the stock is trading above its 20-DMA and 50-DMA with these moving averages continuing to trend higher, reflecting a strengthening medium-term trend. The stock is recommended as a buy with target of ₹97 and stop-loss of ₹86. Federal-Mogul Goetze (India) has confirmed breakout from ascending triangle pattern, successfully surpassing horizontal resistance near ₹480 level on strong volumes. The stock is recommended as a buy with target of ₹520 and stop-loss of ₹470.
