Market Holds Upward Bias

Mumbai: The domestic markets maintained its upward bias for the fourth straight session as benchmark indices notched up splendid gains ahead of the important Budget announcement with strong global cues too aiding the sentiment.

Prashanth Tapse, senior V-P (research), Mehta Equities, says: “Equity markets received a boost after the ECB cut interest rates by 25 bps, which also softened US bond yields.”

Traders will be focused on the Budget and steps the government will announce to boost the economy. Vaibhav Vidwani, research analyst, Bonanza, says that “today, the Indian stock market closed on a positive note on Friday, with both the Sensex and Nifty recording significant gains ahead of the Union Budget announcement. BSE Sensex surged by over 740 points, closing at 77,500.”

As investors await further clarity from the upcoming budget, trading activity remains focused on sectors likely to benefit from government spending and reforms. Overall, the market’s robust performance today indicates a positive outlook as it gears up for key economic announcements.

STOCK PICKS

Indusind Bank | CMP: 995 / SL: 980 / Target: 1,040

The stock has given a good breakout above its trendline resistance zone of 987 - 990 and successfully managing to hold well above the same. With the price structure being positive and stock looking ready for an upside move towards 1040 and above, we advice a buy on Indusind Bank with a strict stoploss of 980 for potential upside move in the same.

Cyient | Buy | CMP: 1,404 | Stop Loss: 1,340 | Target: 1,500

Cyient has given a strong breakout above its recent swing high resistance of 1,405 and is holding well above this level. The stock looks poised for an upward move towards 1,500 and beyond. A strict stop loss at 1,340 is recommended to manage risk. With the potential for short-covering and a strong technical structure indicating a price reversal, this stock presents a good buying opportunity.