Equity benchmarks faced selling pressure for another session, with the Nifty 50 declining 0.48 percent on August 27 amid weak market breadth. According to reports from Moneycontrol, about 2,055 shares declined while 1,133 advanced on the NSE. The market is expected to stage a rebound after the recent weakness, but the sustainability of any gains will be key to watch.
Hitesh Tailor, Technical Research Analyst at Choice Broking, recommends Adani Enterprises with a current market price of ₹3,169. The stock has confirmed a significant multi-year trendline breakout following a sharp recovery from its lower demand zone, with price action sustaining firmly above key exponential moving averages. The RSI has surged to 66.61, crossing decisively above its signal line to reflect strong buying momentum. CRISIL at ₹4,703.2 demonstrates strong bullish momentum following a clean consolidation breakout from a double-bottom base, with the RSI surging to 67.33 holding firmly above its signal line.
ICICI Bank at ₹1,443 exhibits a classic bullish flag and pole continuation pattern following a strong multi-week rally, according to JM Financial Services. The price action has broken out of the downward-sloping channel and is sustaining above key exponential moving averages. The RSI(14) has rebounded to 58.58, crossing above its signal line and the 50 mark to reflect strengthening positive momentum. Bajaj Holdings and Investment at ₹11,399 has given a breakout above a bullish consolidation pattern on the weekly chart and successfully retested the same breakout zone.
Tata Capital at ₹376 is trading in a bullish structure with higher highs and higher lows on both daily and weekly timeframes, as reported by JM Financial Services. The stock recently broke above its previous all-time high and found support near the 20-day and 50-day EMAs. Delhivery at ₹466 continues to trade in a bullish structure with higher highs and higher lows on higher timeframes, having undergone a corrective phase and found support near the 200-day EMA.
The technical analysis from Choice Broking and JM Financial Services indicates multiple bullish opportunities across different sectors. Adani Enterprises targets ₹3,500 with a stop-loss at ₹3,000, while CRISIL aims for ₹5,100 with a stop-loss at ₹4,450. ICICI Bank has a target of ₹1,535 with a stop-loss at ₹1,400, and Bajaj Holdings targets ₹12,315-₹13,000 with a stop-loss at ₹10,786. Tata Capital and Delhivery both show potential for upward movement with specific target levels and risk management parameters.
