Equity benchmarks recouped all their opening losses and closed higher by nearly 0.2 percent on May 20, according to reports from Moneycontrol. Market breadth slightly tilted in favour of the bulls, with 1,497 shares advancing against 1,432 declining shares on the NSE. Further upside in the market is likely in the upcoming session, but the sustainability of gains will be key to watch.
Granules India has given a consolidation breakout on the daily chart, indicating renewed buying interest after a phase of sideways movement, as reported by LKP Securities. The breakout suggests that the stock may be preparing for the next leg of the uptrend. The price has been sustaining above critical moving averages, reflecting underlying strength in the trend structure. Momentum indicators are supporting the bullish setup, as the RSI is in a bullish crossover and trending higher, indicating improving positive momentum. Over the short term, the stock may move towards ₹815, with strong support placed near ₹719.
Tata Motors Passenger Vehicles has recently reclaimed its 20-EMA on the daily timeframe, reflecting underlying buying interest, according to LKP Securities. On the daily chart, the RSI has moved into a bullish crossover, indicating strengthening momentum. As long as the stock sustains above key support levels, the bias is likely to remain positive, with potential upside towards ₹385 in the near term. Immediate support is placed at ₹344.
CG Power and Industrial Solutions witnessed a strong rebound from its 20-day EMA, signalling sustained buying interest at lower levels, as reported by SBI Securities. The stock also managed to close above the highs of the previous three sessions, reinforcing the positive price structure. Technical indicators have turned favourable, with DI+ crossing above DI- on the ADX indicator, indicating buyers are gaining control over sellers. The RSI has climbed sharply from 51 to 61, reflecting improving bullish momentum. Accumulation is recommended in the stock in the ₹855–850 zone, with a stop-loss at ₹820 and target of ₹915.
Cummins India has witnessed a strong rebound from its 20-day EMA on the daily chart, reaffirming the importance of this support zone, according to Jainam Broking. The steadily rising ratio line in the Cummins India/Nifty ratio chart suggests that the stock is likely to continue outperforming the benchmark index. Hindalco Industries has staged a strong rebound from its 20-day EMA, with the same support zone triggering an impressive 8 percent rally in four trading sessions earlier this month. Samvardhana Motherson International has confirmed an ascending triangle breakout on the daily chart, a classic bullish continuation pattern that signals the continuation of the previous trend.
