The benchmark indices witnessed profit booking in the second half of the session and closed off the day's high with marginal gains on June 25. Market breadth remained weak, with about 1,972 shares declining against 1,020 advancing shares on the NSE. According to reports from Moneycontrol, the consolidation may continue as long as the market trades below Friday's high. Technical analysts are recommending selective buying opportunities across various sectors, with Nifty eyeing the 24,300-25,000 zone amid ongoing volatility. The positive outlook comes after India's benchmark indices posted gains for a third straight week, supported by easing crude oil prices, although they surrendered most of their intraday gains ahead of the long weekend.
Analysts recommend selective trading with specific strategies like a moderately bullish Call Spread amid continued volatility. Top stock picks include TVS Motor, Samvardhana Motherson International, Oberoi Realty, Aurobindo Pharma, Vijaya Diagnostic Centre, and Mahindra & Mahindra Financial Services, each presenting unique buying opportunities with defined targets and stop losses. Oberoi Realty has broken out of an inverse head and shoulders formation, confirming a bullish reversal with robust volumes and improving momentum. Aurobindo Pharma is expected to continue its outperformance after breaking out of a multi-month cup-and-handle pattern on strong volumes, with the stock trading above key moving averages across timeframes.
Maruti Suzuki has emerged as a top pick with multiple analyst recommendations. VLA Ambala from SMT Stock Market recommends a buy for targets of ₹14,500, ₹15,000 and ₹18,000, advising traders to maintain a stop loss at ₹13,300. The stock has broken out of an ascending triangle pattern, surging more than 3.7% on Friday and closing decisively above the ₹13,400 resistance zone, with volumes surging to more than twice the recent average. Tata Motors has confirmed a trend reversal by decisively surpassing an inverse head & shoulder pattern breakout at the ₹420 level, accompanied by huge volumes, according to Samco Securities. The stock is well placed above its 20, 50, 100 and 200-day SMAs, with the daily and weekly RSI in favourable territory.
HCL Technologies presents a compelling IT sector opportunity with VLA Ambala from SMT Stock Market recommending entry for upside targets of ₹1,200, ₹1,260 and ₹1,400, while protecting the position with a stop loss at ₹1,000. Cholamandalam Investment has decisively broken out at the ₹1,700 level with a strong 6% upmove last week, accompanied by rising volumes, as reported by Samco Securities. The stock is well placed above its 20, 50 and 100-day SMAs. Poonawalla Fincorp has confirmed a double bottom pattern with both troughs forming near the ₹368–375 zone, rallying sharply to reclaim the ₹430–440 region. Chalet Hotels shows technical strength in the hospitality segment with Deven Mehata from IDBI Capital recommending a buy for an upside target of ₹886, advising traders to maintain a stop loss at ₹799.
JSW Cement is forming a bullish structure with higher lows and higher highs, supported by a rising trendline, according to JM Financial Services. The stock has sustained above all key moving averages including the 200-day EMA. Trident has broken out above a long-term sloping trendline on the weekly chart that was in place since January 2024, with volume building positively and an inverse head-and-shoulders pattern visible on momentum indicators. Tata Consumer Products presents a buying opportunity with Pradeep Halder from PHD Capital recommending a buy with targets of ₹1,175 and ₹1,214, suggesting a stop loss at ₹1,094. GMR Airports highlights momentum in the aviation space with Deven Mehata from IDBI Capital recommending the stock for an upside target of ₹117, advising traders to keep a strict stop loss at ₹104.
