Ahmedabad Times

Nifty stays in a broad consolidation section, with help clustered round 23,200–23,300 and resistance close to 23,750–24,050, leaving merchants watchful for a decisive breakout. Whereas the broader construction stays constructive and buy-on-dips methods are favoured, sentiment is tempered by repeated hurdles and late-week volatility, maintaining the index range-bound with a cautiously optimistic undertone.

DHARMESH SHAH
HEAD OF TECHNICAL RESEARCH AT ICICI SECURITIES

The place is Nifty headed this week?
The index is present process a wholesome consolidation within the 23,800-23,200 zone that has set the stage to progressively head towards the 24,500 degree within the coming weeks. Robust help is positioned at 23,200. Among the key observations are: Banking, auto, capital items sectors have set a better base whereas the IT sector is displaying indicators of revival close to its decade-long help line. Brent crude oil has damaged down beneath its one-month rising trendline help. Shares above 50-day and 200-day SMAs inside Nifty 500 rose to 68% and 45%. Nifty Midcap index broke out of a three-week consolidation to hit new report highs. Small-cap index bounced off its 52-week EMA base and sits 8% beneath all-time highs. Buying and selling technique: Decline in direction of 23,300-23,400 (Nifty Spot ranges) must be used as a shopping for alternative for a goal of 23,900.

TOP BETS FOR THE WEEK
Tata Energy: Purchase at Rs 410-424, cease loss at Rs 392, goal Rs 470
The inventory is rebounding after retesting the April 2026 breakout space of Rs 415. As per the change of polarity precept, the earlier resistance is now performing as a robust help, providing a recent entry alternative with a beneficial risk-reward setup. Sona BLW Precision Forgings: Purchase at Rs 600–610, cease loss at Rs 588, goal Rs 660.

The inventory has witnessed a cupand-handle breakout retest sample, indicating inherent energy. It’s now forming a higher-base formation whereas sustaining above its cluster of transferring averages, signalling a revival of construction within the larger-degree time-frame

TANMAY SHAH
RESEARCH HEAD, SIHL

The place is Nifty headed this week?
Nifty stays in a broad consolidation vary of 23,200–24,050 with a optimistic undertone, so long as it sustains above the essential 23,200 help on a closing foundation. Merchants can undertake a buy-on-dips technique with stops at 23,250 and targets close to 24,200, although a decisive shut beneath 23,200 would weaken the bullish construction and set off profit-booking.

Buying and selling technique: Merchants with a reasonably bullish outlook might take into account a Bull Name Unfold for the ninth June expiry by shopping for the 23,700 Name and concurrently promoting the 24,050 Name. The technique presents a beneficial risk-reward profile of practically 1:2 whereas limiting draw back threat, making it appropriate for the present range-bound but optimistic market setup.

TOP BETS FOR THE WEEK:

L&T: Purchase at CMP Rs 4,074, cease loss at Rs 3,950, goal Rs 4,240- 4,400.

L&T trades firmly above its key transferring averages, with a rising RSI and a bullish weekly construction, indicating a beneficial risk-reward setup at present ranges.

Indian Power Change: CMP Rs 128.31, cease loss at Rs 124.50, goal Rs 134-139.80.

The inventory has fashioned a bullish double-bottom close to its 50-day transferring common, backed by robust volumes.

SUDEEP SHAH
HEAD – TECHNICAL AND DERIVATIVE RESEARCH, SBI SECURITIES

The place is Nifty headed this week?
Nifty stays trapped in a broad consolidation section, with the month-to-month chart reflecting indecision by means of a bearish candle and near-term sentiment tilting barely bearish after Friday’s late sell-off, although indicators nonetheless lack development energy. The rapid hurdle lies at 23,750–23,800, whereas help at 23,300– 23,250 is essential—beneath which a slide to 23,000 is feasible, whereas a transfer above 23,800 might revive short-term bullish momentum.

Buying and selling technique: For the reason that Index is buying and selling in a broader vary with volatility, we advise merchants to go lengthy on Nifty solely on a breakout above 23,800 with a cease loss at 23,500 for a goal of 24,250.

TOP STOCKS FOR THE WEEK

Nuvama Wealth Administration: CMP Rs 1,554, cease loss at Rs 1,480, goal Rs 1,690-1,750.

The inventory continues to show a robust worth construction, buying and selling above key transferring averages throughout timeframes and reflecting sustained bullish momentum. After a wholesome consolidation, it has damaged out with shopping for seen on dips, whereas relative energy towards friends and the broader market stays beneficial.

Syrma SGS Know-how: CMP Rs 1,088, cease loss at Rs 1,045, goal Rs 1,160-1,180.

Syrma stays in a robust uptrend, outperforming friends within the EMS area and holding firmly above key transferring averages with sustained shopping for curiosity on dips. Momentum indicators keep supportive, and enhancing relative energy versus the broader market factors to additional upside potential.