The benchmark indices rebounded with gains of more than 0.4 percent, but the broader markets remained moderately lower amid weak market breadth. According to reports from Jainam, about 1,756 shares were under pressure, compared with 1,476 shares that advanced on the National Stock Exchange. Consolidation is the most likely scenario amid the cautious mood among market participants. As of 7:50 am IST, GIFT Nifty was trading 0.3 percent higher at 23,211, indicating positive momentum for Thursday's session.
Aegis Vopak Terminals is showing signs of renewed strength after breaking above a declining trendline that had capped upside since the July peak. As reported by Jainam, the stock has been forming a series of higher lows, indicating steady accumulation at lower levels. The breakout was accompanied by improved volumes, suggesting genuine buying interest with a target of ₹315 and stop-loss at ₹286. ACME Solar Holdings has witnessed a strong breakout above the crucial ₹400-405 resistance zone, with a target of ₹448 and stop-loss at ₹402.
Allied Blenders and Distillers has been recommended as a BUY with a target of ₹675 and stop-loss at ₹615. According to ET Now, the stock has broken out of its tight ₹644–584 range since August, with the latest target reflecting continued momentum. SBI Life Insurance Company is also a BUY pick with a target of ₹1,780 and stop-loss at ₹1,650. The company emerged as a top gainer among Nifty stocks on September 16, along with HDFC Life. J&K Bank has been recommended as a BUY with a target of ₹160 and stop-loss at ₹160.
Prestige Estates Projects had been consolidating in a 1,670–1,522 range throughout August before breaking below the lower end of the range and witnessing a sharp decline. According to SBI Securities, the stock has slipped below its key moving averages, indicating deterioration in the near-term price structure. The target is set at ₹1,340 with a stop-loss of ₹1,470.
The 30-share BSE Sensex climbed 332.63 points, or 0.45 percent, to settle at 74,336.45, while the 50-share NSE Nifty was up 99 points, or 0.43 percent, to end at 23,217.60. During the day, the Sensex jumped 502.04 points to 74,505.86. Among Nifty stocks, SBI Life and HDFC Life emerged as the top gainers, while IT majors TCS and Wipro were among the top losers. Asian markets showed mixed performance with Japan's Nikkei 225 trading nearly flat and South Korea's KOSPI mirroring the same trend, while Hong Kong's Hang Seng was down 1 percent.
