The market is expected to remain under bearish pressure amid rising oil prices and fears of a prolonged Iran war. According to reports from Moneycontrol, equity benchmarks rebounded 0.2 percent on September 10 after a three-day correction, but market breadth remained weak. About 2,002 shares declined compared with 1,238 advancing shares on the NSE. The latest Gift Nifty trends signal a negative start for Friday, trading around 23,349 level, a discount of nearly 135 points from the Nifty futures' previous close. As per Enrich Money CEO Ponmudi R, "The combination of weaker global equities, surging crude oil prices and persistent geopolitical uncertainty is likely to keep the domestic market on the defensive at the open." However, the NIFTY50 staged a smart but short rebound on Thursday, ending over 40 points higher and forming a bullish hammer candlestick pattern, showing some signs of relief for bullish traders.
Space Exploration Technologies (SPCX) has emerged as a compelling trading opportunity amid the broader market weakness. According to Hammerhead Financial, the stock is trading in a manner similar to Meta Platforms after its 2012 debut, breaking its offering price within days and experiencing lockup expirations throughout the summer. On August 6, 911.5 million shares became sellable, more than the entire IPO, with the stock closing up 6% on the heaviest volume in its short life. Recent lockup expirations on August 20 and September 9 resulted in 4% drops followed by recoveries, indicating strong underlying demand. The stock is positioned for a major catalyst on December 8 when the full 180-day lockup lifts and approximately 798 million shares are released, representing the largest supply event of the year.
Solara Active Pharma Sciences has confirmed a bullish trend by breaking out above a key horizontal resistance zone of ₹715-735, with a weekly close above ₹715, backed by heavy trading volume that signals strong market participation. According to Axis Securities, the stock is trading at ₹749.15 with a buy strategy and targets of ₹800 and ₹860, while maintaining a stop-loss at ₹720. Aditya Birla Sun Life AMC is trending higher within an "upward-sloping channel" since April 2025, recently recapturing its 20-, 50- and 100-day SMAs and trading at ₹1,109.9. Axis Securities recommends a buy strategy with targets of ₹1,150 and ₹1,200, and a stop-loss at ₹1,060. Yes Bank decisively broke past its six-week supply barrier at ₹23 to close around ₹24, driven by strong Friday buying and heavy trading volume, with targets of ₹27 and ₹30 and a stop-loss at ₹23.
Adani Ports and Special Economic Zone is showing technical strength with a buy recommendation around ₹1,765-1,760 and targets of ₹2,000 and ₹2,010, while maintaining a stop-loss at ₹1,570. The stock has formed a column reversal pattern on its Point and Figure chart and shows bullish RSI readings. Black Box presents a lucrative opportunity following a 150 percent rise in two months, with a buy strategy around ₹800-795 and targets of ₹950 and ₹980, while maintaining a stop-loss at ₹707. Syrma SGS Technology has broken out from a bullish flag pattern with above-average volume, showing momentum indicator crossovers and targets of ₹1,713 and ₹1,915. JSW Infrastructure is consolidating in a symmetrical triangle pattern between ₹310 and ₹355, with a buy strategy at ₹343.15 and targets of ₹361, while maintaining a stop-loss at ₹332.
Global markets are experiencing significant pressure as Asian markets opened in the deep red on Friday, with Korean KOSPI falling nearly 3%, Japanese Nikkei at -2.45%, and Hong Kong's Hang Seng at -1.8%. US markets ended lower with the Dow Jones falling over 300 points and the S&P 500 shedding 0.6% on Thursday, while the NASDAQ 100 declined 1.3%. It was the fourth consecutive day of declines for the major averages. Crude oil prices are set to post strong weekly gains of nearly 13% this week as renewed tensions in the Middle East flare up supply concerns, with Brent crude oil prices surging past the $110-per-barrel mark on Friday as US adversaries against Iran intensified. Crude oil prices rallied following reports citing U.S. officials that "top White House advisers have raised privately with President Trump the prospect that the Iran war could drag on through the remainder of his term." Brent crude futures were up 6.6% to $107.90 after crossing the $100-a-barrel threshold for the first time since July 23, while US WTI crude rose 6.9% to $102.70 after recrossing the $100 level for the first time since May.
