Equity benchmarks turned positive and closed 0.4 percent higher on June 22, with market breadth favoring the bulls. According to reports from Moneycontrol, around 1,929 shares advanced compared to 1,102 declining shares on the NSE. The market trend remains healthy, but a sustained close above long-term moving averages is needed for further sharp upside. As reported by market experts, the technical setup suggests potential for continued positive momentum in the coming sessions.
Jigar S Patel, Senior Manager - Equity Research at Anand Rathi, recommends Eicher Motors with a current market price of ₹7,639.5. The stock has witnessed a classic price structure breakout backed by strong volumes, with the RSI holding above 50 and MACD sustaining above the zero line. Traders may consider entering long positions in the ₹7,650 – 7,550 zone with a target of ₹8,225 and stop-loss at ₹7,300. Similarly, Torrent Power at ₹1,475.2 is trading near strong support confluence with multiple technical indicators supporting a bullish outlook.
According to ICICI Securities analysis, Hindustan Aeronautics at ₹4,515.20 has witnessed good price action with higher highs and falling open interest indicating short covering. The stock has closed above ₹4,500 level with good put additions at lower levels and call unwinding signaling trend reversal. Sun Pharmaceutical Industries at ₹1,863.2 has shown renewed interest with fresh long additions over the past quarter, trading well above its maximum pain level of ₹1,820. The Nifty Pharma sector performance supports the positive outlook.
Somil Mehta from Mirae Asset ShareKhan highlights Power Finance Corporation at ₹440.95, which has retraced nearly 61.8 percent of its five-wave rally and broken out of consolidation range. The stock is expected to move higher toward ₹470-₹486 range. Multi Commodity Exchange of India at ₹2,870.4 has corrected over 20 percent and formed positive weekly candle after rebounding from 20-week SMA, with targets at ₹3,094-₹3,185 levels. Aditya Birla Capital at ₹391.95 continues displaying robust bullish structure with a decisive breakout from May 2026 consolidation.
Vidnyan S Sawant from GEPL Capital recommends Indian Hotels Company at ₹733, which continues exhibiting strong bullish trend near five-month highs. The stock broke above descending trend line from December 2024 and MACD has entered positive territory. The combination of trend line breakout, sustained price strength, and improving momentum suggests the stock is well-positioned for continued uptrend with a target of ₹812 and stop-loss at ₹705.
