Crude oil remained the primary drag on market sentiment on Tuesday, while rising US bond yields and weak global cues prolonged the risk-off trend in Indian equities. Investor anxiety increased as hopes for a Middle East resolution faded following the expiration of the temporary US-Iran ceasefire, heightening concerns about renewed inflation.
Elevated U.S. yields further reduced the attractiveness of emerging markets, and IT stocks led losses amid fears that persistently high interest rates could dampen global technology spending. Although domestic fundamentals continue to be supportive, analysts say sustained high crude prices and rising input costs could pressure recent earnings upgrades, prompting investors to remain cautious in the near term.
Aeroflex Industries - Buy | Stop-loss: Rs 450 | Target: Rs 520
Technically, Aeroflex has recovered strongly from its July correction and is trading above key 50-, 100- and 200-DMAs, maintaining a higher-low structure. A high-volume close above Rs 522 could open targets of Rs 550–570 and Rs 600. Key support lies at Rs 450–465. Overall, the technical outlook is bullish. Sustained trading above Rs 522 would strengthen the breakout setup, while a decisive close below Rs 450 would weaken near-term momentum.
Himanshu Gupta, Head of Research - Retail Broking, Jainam
JG Chemical - Buy | Stop-loss: Rs 599 | Target: Rs 690
The price remains comfortably above its 50-DMA (Rs 477) and 200-DMA (Rs 399), confirming a strong primary uptrend. Technically, Rs 646–654 is the immediate resistance zone. A decisive breakout above Rs 654 with strong volume could open the way toward Rs 675–690 in the short term. Key supports are at Rs 607. volume confirmation and momentum indicators suggest that stock is gaining momentum.
Himanshu Gupta, Head of Research - Retail Broking, Jainam
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