Equity benchmarks remained under pressure for the seventh consecutive day, with the Nifty 50 falling 0.3 percent amid weak market breadth. According to reports from Moneycontrol, about 2,006 shares declined compared with 1,071 advancing shares on the NSE. The market may attempt a bounce back after the recent weakness, but overall, it remains in a range-bound phase.
Rupak De, Senior Technical Analyst at LKP Securities, recommends Meesho with a current market price of ₹196.88. The stock has been sustaining above the previous consolidation zone, indicating rising optimism. It is trading above critical moving averages on the daily timeframe, with the RSI entering a bullish crossover, suggesting improving momentum. The target is set at ₹205 with a stop-loss at ₹193. Similarly, Elgi Equipments at ₹637.8 has given a breakout from downward consolidation, with a target of ₹676 and stop-loss at ₹613.
Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities, recommends Nippon Life India Asset Management at ₹1,217. The stock has given a breakout from a downward-sloping trendline and is trading above key moving averages. The MACD line has crossed above the signal line, indicating strengthening bullish momentum, with a target of ₹1,310 and stop-loss at ₹1,170. PNB Housing Finance at ₹1,174 has moved higher after consolidating within the ₹1,176-1,120 range since August 6, with a target of ₹1,260 and stop-loss at ₹1,130.
Vaishali Patel, Senior Manager - Research- Technical Department at Jainam, recommends 360 ONE WAM at ₹1,180.5, which has been forming a symmetrical triangle pattern indicating potential breakout setup. The stock has consistently held above its 20-day EMA over the past five sessions, with a target of ₹1,270 and stop-loss at ₹1,135. Dixon Technologies at ₹14,462 is showing bullish technical structure with a breakout above a falling trendline, targeting ₹15,800 with a stop-loss at ₹13,980. Data Patterns at ₹4,774.2 is maintaining strong bullish structure, targeting ₹4,980 with a stop-loss at ₹4,590.
Jefferies has retained its 'Buy' rating on Belrise Industries and raised its price target to ₹280 per share, from ₹250 earlier, following the company's Q1 FY27 performance. The revised target represents a potential upside of 19% from the current share price. According to Jefferies, the brokerage expects Belrise's EBITDA to grow at a compounded annual rate of 21% and earnings per share to grow at 25% annually between FY26 and the estimated FY29 period. Belrise reported 13% year-on-year growth in total operating income in Q1 FY27, while EBITDA increased 5% year on year, with manufacturing revenue rising 20% supported by growth across two-wheeler, passenger-vehicle and commercial-vehicle segments.
