The benchmark indices fell nearly 0.7 percent after three consecutive sessions of gains on July 14, accompanied by negative market breadth. According to reports from Moneycontrol, about 2,141 shares declined while 834 shares advanced on the NSE. The market is expected to remain in a consolidation phase in the short term until geopolitical tensions ease and oil prices cool. Technical analysts are recommending selective stock picks for positional traders during this consolidation period.
JSW Steel is trading in the accumulation zone with range-bound movement on the daily scale after its downward trend. As reported by Kotak Securities, the stock is expected to breakout of the range with bullish momentum from current levels. For positional traders, ₹1,200 is the decisive level, with trading above this reversal formation continuing till ₹1,330. However, if it closes below ₹1,200, traders may exit long positions.
Sun Pharma remains within a rising channel chart structure on the weekly timeframe, showing higher highs and higher lows sequence pattern. According to Kotak Securities, the stock experienced a rebound from trend line support zones, with technical indicator RSI suggesting further upward trend. The ₹1,880 level may act as the trend deciding level for bulls, with a potential target of ₹2,080 if it holds above this level.
Blue Star surged nearly 2 percent in the previous session and gave a breakout of the Double bottom pattern, indicating a bullish reversal sign. As reported by Waves Strategy Advisors, the stock has been closing above prior day's high for four consecutive sessions, showing bullish strength. The MACD indicator shows formation of green histograms above zero line, reflecting sustained buying interest. A break above ₹1,755 is required for bullish momentum to continue, targeting ₹1,900 or higher.
The pharmaceutical sector has continued to outperform the broader market over the past month, maintaining its position among the top-performing sectors. Caplin Point Laboratories has been consolidating at higher levels within a narrow range of ₹2,500–2,690 since June 30, 2026, indicating healthy accumulation after recent rally. According to Emkay Global Financial Services, the stock has formed higher highs and higher lows over the last two sessions, suggesting improving bullish momentum with potential targets of ₹2,790 and ₹2,940.
