Freetrade users' most-bought stocks in May were dominated by US tech names, with Nvidia, Microsoft, Alphabet, Micron, and Amazon leading the charge. According to Freetrade data, this marks the second consecutive month of noticeable US market interest among retail investors. The sustained investor appetite for growth stocks appears to be steering market sentiment, with chipmakers particularly favored despite strong earnings already reported. Nvidia remains at the top of the pile, while fellow semiconductor specialists Micron and AMD edged higher up the rankings, with Intel and Broadcom not lagging far behind just outside the top 10.
The market is expected to remain range-bound, with Wednesday's low acting as a support level going forward. According to reports from Moneycontrol, the benchmark indices recovered sharply, with the Nifty 50 closing with a moderate loss of 0.4 percent on June 3. Market breadth was in favour of the bears, with 1,777 shares declining against 1,208 advancing shares on the NSE. Technical analysts recommend focusing on stocks showing strong technical patterns and momentum indicators, with the current market environment favoring growth-oriented technology stocks.
Narayana Hrudayalaya has broken out of a consolidation zone on the daily chart, signalling a resurgence in buying interest following a period of range-bound trading. As reported by LKP Securities, the stock continues to trade above key moving averages, with the RSI entering a bullish crossover and trending higher, suggesting improving momentum. The stock has potential to advance towards ₹2,100 with strong support near ₹1,930. Premier Energies remains in a strong Stage-2 uptrend, trading above its 20-day, 50-day, 100-day, and 200-day moving averages, with the Relative Strength Index well placed in the bullish zone of 60–80, supporting buying momentum at current levels.
Ather Energy has started a new uptrend following an upward consolidation breakout, with the price sustaining above the critical short-term moving average, the 20 EMA. According to SBI Securities, momentum indicators are supporting the bullish setup, as the RSI is in a bullish crossover and trending higher, indicating improving positive momentum. The stock may move towards ₹1,100 with strong support near ₹984. Premier Energies continues to trade above its key moving averages, with the broader trend structure favouring the bulls supported by sustained institutional interest and positive momentum within the renewable energy sector. The latest earnings from sector bellwether Nvidia showed 85% YoY revenue growth, demonstrating continued strength in the semiconductor sector despite not wowing investors due to high expectations.
ABB India has staged an impressive recovery of nearly 17 percent after finding strong support near its 100-day EMA on May 12. As reported by SBI Securities, momentum indicators continue to strengthen with the RSI sustaining above the 60 mark on both daily and weekly charts, signalling a firmly bullish trend. The MACD has crossed above the zero line with rising green histogram bars reinforcing bullish momentum. Federal Bank is on the verge of giving an ascending triangle breakout, with the RSI breaking out above a downward-sloping trendline and moving above the 60 mark, signalling strengthening bullish momentum. ADF Foods has corrected sharply from its 52-week high and is showing signs of a Stage-2 uptrend after emerging from a prolonged consolidation phase.
