Index View: Nifty

After a challenging period, the Nifty index has shown signs of recovery, closing positively for the first time in weeks. This turnaround is attributed to the index finding support at a crucial retracement level, suggesting a potential shift in market dynamics. However, experts maintain a neutral stance, awaiting further confirmation of a sustained reversal.

Bank Nifty

The Bank Nifty index has broken out from its recent consolidation, indicating a possible extension of its upward trajectory. Key levels to watch suggest that a significant rally could be on the horizon, provided the index maintains its current momentum.

INDIGO (BUY)

LCP: 4698.10
Stop Loss: 4480
Target: 5020
INDIGO's recent breakout from a symmetrical triangle pattern signals a bullish outlook, with potential for further gains in the near term.

JINDAL STEEL (BUY)

LCP: 891.65
Stop Loss: 854
Target: 950
Jindal Steel's breakout from a falling trendline, coupled with positive sector momentum, suggests a promising upward movement ahead.

MEDANTA (BUY)

LCP: 1192.55
Stop Loss: 1158
Target: 1310
Standing out in a bearish market, Medanta's resilience and higher low formations hint at a potential surge, making it a stock to watch.

Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.