The market witnessed a profit booking-led correction on May 26 after two consecutive days of gains, with about 1,571 shares declining against 1,402 advancing shares on the NSE. According to Kotak Securities VP Technical Research Amol Athawale, the market is likely to remain in a consolidation phase as long as it trades below Tuesday's high. The correction follows a period of positive momentum, with traders advised to consider short-term trading opportunities across multiple sectors. As per TradingView News, the market breadth turned negative with the correction, indicating broader selling pressure across the market.
NTPC Green Energy (CMP: ₹103.04) has rebounded from a key demand zone after a prolonged decline, forming bullish reversal patterns on both daily and intraday charts. As reported by Kotak Securities, the stock has a buy target of ₹110 with a stop-loss at ₹99. The RSI indicator points to strengthening momentum, indicating potential for further upside. TVS Motor Company (CMP: ₹3,355.70) is trading within a rising channel formation with a buy target of ₹3,690 and stop-loss at ₹3,330. The stock witnessed a steady recovery from lower levels and the RSI technical indicator is signalling a further uptrend from current levels. Oil and Natural Gas Corporation (ONGC) (CMP: ₹287.5) is positioned within a rising channel with a buy target of ₹310 and stop-loss at ₹277.
Market experts have provided specific guidance on several major stocks during recent analysis sessions. Tata Motors Passenger Vehicles (CMP: ₹393.90) is recommended as a hold by experts citing strong EV traction and positive movement in passenger vehicles. JSW Energy (CMP: ₹595.05) is also suggested as a hold with good support at ₹570 and resistance around ₹640. TVS Motor Co. (CMP: ₹3,355.70) is recommended for buy on dips with experts suggesting waiting for dips toward ₹3,300-₹3,350. Ashoka Buildcon (CMP: ₹122.39) is advised as a sell by experts, with recommendations to exit the stock rather than continuing to hold or average the counter. Siemens Energy India (CMP: ₹3,872.10) is recommended as a hold due to its strong performance.
Chambal Fertilisers & Chemicals (CMP: ₹477.95) delivered a decisive breakout above its consolidation range of ₹399-474 with strong volume participation, indicating potential for further upside toward ₹535. According to TradingView News, the stock surged more than 3% in the previous session, with the momentum indicator KST crossing above its signal line and sustaining above the zero line. The momentum indicator KST has also crossed above its signal line and is sustaining above the zero line, indicating strengthening momentum. For now, a sustained move above ₹487 may open the doors for further upside toward ₹535, while ₹462 is expected to act as an important support zone in the near term.
Ather Energy (CMP: ₹950.6) has closed above prior highs for two consecutive sessions with technical indicators signaling trend continuation toward ₹1,030 and ₹1,100. The stock has been outperforming broader market indices over the past few weeks, reflecting strong relative strength. Technically, prices recently took support near the baseline of the Ichimoku Cloud indicator and resumed their upward move, suggesting the bullish trend remains intact. The ADX and DI indicators are trading near 31, well above the important 25 mark, signalling trend continuation. For now, a decisive breakout above ₹990 could trigger a fresh upside move toward ₹1,030, followed by the ₹1,100 level, while ₹945 can act as a key support zone.
