Nifty ended its four-session losing streak, closing with minor gains aided by significant buying action in metals, energy and consumer stocks. Nifty traded below the 20 EMA on the hourly chart throughout the day, indicating persistent selling pressure.
Rupak De, Senior Technical Analyst at LKP Securities said the index remained volatile throughout the session as investors stayed uncertain about the market’s near-term direction. "The daily RSI continues to remain in a bearish crossover, suggesting that the negative momentum is still intact. On the upside, the 23,500 zone continues to act as a strong resistance level. In the near term, the index may remain under pressure, while immediate support is placed around 23,150–23,200," De said.
Here are 2 stocks to buy:
Buy SAIL at Rs 200-202 | Upside: 9%
Stop Loss: Rs 190
Target: Rs 215 & 220
SAIL has delivered a textbook structural breakout on the weekly timeframe, signaling a shift from a broad consolidation phase into a strong momentum-driven uptrend. The price action reflects heavy institutional accumulation as it clears multi-year resistance levels. The RSI is currently pushing into the 75–78 zone. With the stock clearing its 2024 peaks, it has entered a price discovery zone with very little overhead supply
(Virat Jagad, Sr. Technical Research Analyst, at Bonanza Portfolio)
Buy Hindustan Copper at Rs 590-595 | Upside: 6%
Stop Loss: Rs 575
Target: Rs 625-630
Hindustan Copper has successfully completed a mean reversion and price-time correction after its parabolic surge in early 2026. The stock is currently exhibiting signs of a Trend Reversal on the daily timeframe, supported by a constructive base formation and rising momentum. The price has reclaimed its position above the Daily EMA.
(Virat Jagad, Sr. Technical Research Analyst, at Bonanza Portfolio)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
