Global markets are experiencing significant volatility with September Nasdaq 100 E-Mini futures down 1.07% as investors continue to ditch chipmakers amid concerns over the sustainability of the AI spending boom. The selloff has broadened across regions, with South Korea's Kospi index down more than 10% and Japan's Nikkei Stock Average down about 4% following rough sessions for U.S. chip and AI infrastructure stocks. Despite the global uncertainty, equity benchmarks ended a range-bound session flat with negative bias on July 28, as reported by market analysts. Market breadth was negative with about 2,048 shares declining against 938 advancing shares on the NSE, though the market is expected to gain strength after consolidation as key support levels remain intact.
According to Kotak Securities technical research, Infosys stock is trading in a range-bound mode on the daily scale after its downward trend, currently priced at ₹1,105.7. The stock is showing recent bullish activity indicating good strength, with the technical setup suggesting a potential breakout from current levels. For positional traders, ₹1,065 is the decisive level - trading above this reversal formation could continue till ₹1,180, while a close below ₹1,065 may warrant exiting long positions.
As reported by Kotak Securities, DLF stock has rebounded from its support zone and is trading near the breakout line of its sloping channel formation, currently priced at ₹663.05. The technical analysis suggests a likely breakout and new bullish trend from current levels, with ₹640 as the trend decider level for the next few trading sessions. Similarly, Jubilant Foodworks stock has rebounded from multiple support zones after a long consolidation phase, currently at ₹432.2. The stock has given a breakout from its sloping channel formation, with the technical setup suggesting a new bullish trend as long as it trades above ₹415, targeting ₹460.
According to Waves Strategy Advisors, Hero MotoCorp has been heading higher with each passing session in higher high and higher low formation, currently priced at ₹5,154.5. The stock is back above the key 200 EMA level near ₹5,145, with KST line trading above the Signal line indicating bullish momentum development. For Eternal, the stock rallied nearly 4 percent in the previous session, delivering a decisive breakout above its narrow consolidation range of ₹275–301, currently at ₹308.35. The technical indicators show strong buying momentum with ADX hovering near 40, confirming a strong trend.
As reported by technical analysts, Indian Energy Exchange surged more than 4 percent and gave a breakout of the Double bottom pattern, currently priced at ₹132.11. The technical indicators show the 20-period EMA crossing above the 40-period EMA for the first time since April 2026, with RSI stable at 65 indicating momentum buildup. Eternal's strong momentum is confirmed by ADX hovering near 40, well above the 25 mark, with the stock closing above previous day's high for two consecutive sessions. The overall price structure remains bullish with buying on dips appearing as a prudent strategy.
