The market may witness some consolidation and profit booking after the recent rally, but the overall trend remains positive. According to reports from LKP Securities, the benchmark indices remained in an uptrend for the fourth consecutive session, with the Nifty 50 advancing 0.4 percent on June 17 amid subdued oil prices. Market breadth remained positive, with about 1,699 shares advancing against 1,309 declining shares on the NSE. Latest data shows Nifty 50 rose 0.11% to 24,112.80 and BSE Sensex increased 0.12% to 77,248.53 as of 10:18 IST on Thursday. Technical analysts recommend selective buying opportunities in stocks showing strong technical patterns and breakout formations.
Indian Hotels Company has given a falling trendline breakout, indicating improving sentiment and rising optimism. As reported by LKP Securities, the stock has registered a consolidation breakout on the weekly timeframe, reinforcing the bullish outlook. The RSI has broken above its falling trendline, signalling strengthening momentum. In the short term, the stock has the potential to move towards ₹737, while a fall below ₹680 could weaken the price structure and trigger downside pressure. JBM Auto has also shown strong technical form with a falling trendline breakout on the daily chart, suggesting improving optimism. The stock has the potential to move towards ₹750 in the short term, with support placed at ₹678.
Kirloskar Brothers has given a consolidation breakout on the weekly chart, indicating improving sentiment and a positive outlook for the medium term. According to SBI Securities, the stock has moved above its 20-week moving average, confirming an improvement in the longer-term trend. The RSI is in a bullish crossover and continues to rise, signalling strong positive momentum. On the upside, the stock has the potential to move towards ₹1,945, while immediate support is placed at ₹1,790. Siemens Energy India continues to exhibit strong bullish price structure, forming consistent higher highs and higher lows while firmly respecting its upward-sloping channel. The stock remains above key moving averages with momentum indicators supporting the positive outlook, with potential to test ₹4,050 in the short term.
GE Vernova T&D India has given a symmetrical triangle breakout on the daily chart with relatively high volumes, accompanied by a strong bullish candle on the breakout day. As reported by Jainam, the ADX on the weekly chart is rising, indicating strengthening trend momentum, while the upward-sloping MACD reflects sustained momentum. The stock has potential to test ₹5,510 in the short term. Data Patterns India has signalled a strong bullish breakout by surpassing its previous swing high on both daily and weekly charts, after consolidating within the ₹4,722–4,165 range over the last five sessions. The ADX is steadily moving higher, suggesting the bullish trend is gaining strength, with potential to test ₹5,100 in the short term.
Borosil Renewables has witnessed a significant turnaround after forming a major bottom near ₹375 in March 2026, with the recent breakout above the ₹575–580 resistance zone accompanied by strong volume surge. According to Jainam, the stock has reclaimed its long-term moving averages and is trading above all key moving averages. The stock has potential to test ₹627 in the short term. Hind Rectifiers has witnessed strong recovery after breaking out of its multi-month consolidation range, currently trading near recent highs and outperforming the broader market. The RSI remains in the bullish zone above the neutral mark, with potential to test ₹1,252.
Bank of Baroda has been trading firmly above its key EMAs, post the resurgence from lows of ₹250 subzone in recent period. As per Angel One's Osho Krishan, the stock has witnessed a 'Rounding bottom' formation and seems poised to continue its northward journey. The positive crossover in 14-day RSI and the MACD Histogram suggests strong alignment with the price action. Recommendation: BUY around ₹275-270 with Stop Loss of ₹250 and Target of ₹300-320. Siemens Energy India continues to exhibit a strong secular uptrend, characterised by consistent higher highs and higher lows across multiple time frames. The stock has recently rebounded from its 20-DEMA, indicating healthy demand at lower levels. Recommendation: BUY around ₹3,700 with Stop Loss of ₹3,400 and Target of ₹4,100-4,200.
