The benchmark indices closed marginally lower on Thursday amid weakness in FMCG, IT and banking stocks, with the Nifty slipping 4.3 points (0.02%) to close at 24,326.65 and the BSE Sensex declining 114 points (0.15%) to settle at 77,844.52. However, market breadth remained strong with 2,036 shares witnessing buying interest compared to 921 declining shares on the NSE, according to reports from Moneycontrol. The India VIX ended at 16.62, down 0.34% from the previous closing, indicating easing volatility and supporting optimism despite global market uncertainty and stock-specific selling pressure.
Deepak Nitrite Ltd, part of the specialty chemical space, has broken out from a bullish pennant pattern on the daily charts, opening room for the stock to head higher. As reported by ETMarkets.com, the stock hit a high of ₹2,173 on May 19, 2025, but failed to hold the momentum. It closed at ₹1,771 on May 5, 2026, translating into a fall of more than -10% from its peak. Short-term traders can look to buy the stock for a target of ₹1,900 in the next 2-3 weeks, suggest experts. The breakout from the bullish pennant pattern indicates potential for a significant upward move in the coming weeks.
NMDC Steel has delivered a strong breakout above a long-term descending resistance trendline on the daily chart, trading at ₹44.24 with impressive momentum in recent sessions. As reported by JM Financial Services, the stock is now trading above all key EMAs with upward-sloping averages confirming trend strength. The RSI is in bullish territory near 69, while the DMI+ and ADX support the bullish bias. The overall structure remains positive with higher highs and higher lows, with volume expansion on up days supporting continued buyer interest.
Aditya Birla Fashion & Retail has broken out above a prolonged downtrend and resistance trendline with strong bullish candles, trading at ₹67.79. According to Choice Broking, the stock has shown multiple bullish reversal signals on the RSI and has successfully reclaimed key moving averages. The price is now trading above short- and medium-term EMAs with upward slopes, while the RSI has turned bullish with positive momentum and DMI positive crossover supporting the bullish bias.
IRCON International has given a strong breakout above a flag-and-pole pattern, trading at ₹161.35 with impressive strength and series of bullish candles. As reported by Choice Broking, the stock has successfully sustained above its short- and medium-term EMAs and is trading comfortably above key moving averages with upward slopes. The RSI has turned bullish and is holding above the 60 level, with the overall structure showing higher highs and higher lows.
RBL Bank has delivered a decisive breakout above the ₹340–345 resistance band, trading at ₹345.75 with strong bullish candle formation and volume expansion. According to Samco Securities, the stock is now trading comfortably above all moving averages with a steady sequence of higher lows formed since March 2026. The daily RSI is placed near 64 and trending higher, with volumes expanding meaningfully during the breakout session.
HDFC Life Insurance Company has staged a sharp recovery after a prolonged corrective phase, trading at ₹625.40 with a decisive breakout above the ₹610–615 resistance band. As reported by Samco Securities, the breakout was accompanied by exceptional volume surge at more than three times the recent average. The stock has reclaimed the 40-day EMA near ₹612 and shows positive RSI divergence with MACD turning positive. Lodha Developers is extending gains following a breakout above the inverse head-and-shoulders neckline near ₹920, with the long-term falling trendline breached and RSI at 67 holding above its signal line.
