Equity benchmarks fell around half a percent on September 2, extending their decline for the third consecutive session. Market breadth remained weak, with about 2,007 shares declining against 1,214 advancing shares on the NSE. According to reports from Moneycontrol, the market may attempt a rebound towards the current week's high, but the sustainability of any gains remains uncertain amid a weak technical setup.
Clean Science and Technology has given a consolidation breakout on the daily chart, confirming a possible resumption of the uptrend. The price has been sustaining above critical moving averages, with the RSI in bullish crossover and rising confirming positive momentum. As reported by LKP Securities, the stock is recommended as a buy with a target of ₹920 and stop-loss at ₹834. Urban Company has given a strong closing following several days of consolidation, sustaining above key moving averages with RSI in bullish crossover. The stock is recommended as a buy with a target of ₹182 and stop-loss at ₹164.
RBL Bank witnessed a strong pullback from its 50-day EMA and closed 2.34 percent higher on Wednesday, signalling renewed buying interest. According to SBI Securities, the stock has been consolidating in a ₹375–395 range for the past five weeks, building a strong base for the next leg of the up move. The stock is recommended as a buy with a target of ₹420 and stop-loss at ₹375. BEML has strengthened its bullish setup after breaking above a key horizontal trendline resistance on the weekly chart, followed by a strong follow-through move. The stock is recommended as a buy with a target of ₹2,180 and stop-loss at ₹1,955.
Voltas has turned decisively bearish after breaking down from a descending triangle pattern on the daily chart. The stock is trading below its key short and long-term moving averages, with momentum indicators flashing caution as the RSI slips below the 30 mark. As reported by Jainam, the stock is recommended as a sell with a target of ₹1,080 and stop-loss at ₹1,185. Ingersoll Rand (India) has registered a decisive breakout above its recent consolidation zone, but the stock is recommended as a sell with a target of ₹4,719 and stop-loss at ₹5,110.
Arvind has confirmed a breakout above a downward-sloping trendline, signalling a shift in momentum in favour of the bulls. The stock is trading above its short and mid-term moving averages, with the RSI trading above the 60 level indicating strengthening momentum. According to Jainam, the stock is recommended as a buy with a target of ₹612 and stop-loss at ₹548. State Bank of India Futures has been sustaining below the rising trendline following a breakdown, with the RSI falling below the previous swing low confirming negative momentum. The stock is recommended as a sell with a target of ₹1,000 and stop-loss at ₹1,040.
