Nifty Holding Higher Bottom Formation

Mumbai: On Monday, the benchmark indices bounced back sharply as BSE Sensex was up by 592 points. Among sectors, Reality, Bank Nifty and IT indices rallied over one per cent whereas Media and Metal indices shed nearly one per cent.

Technically, after a positive opening, the market held the positive momentum throughout the day. Currently, Nifty is trading near 50-day SMA (Simple Moving Average) and on intraday charts; it is holding higher bottom formation, which is largely positive.

Shrikant Chouhan, head (equity research), Kotak Securities, said: “We are of the view that, as long as the index is trading above 81,500 the pullback formation is likely to continue. on the higher side the market could move up till 82,300-82,500.” On the flip side, below 81,500 level, the sentiment could change. Below the same, market could retest the level of 81,200-81,000.

“Market shows resilience, geopolitical tensions and upcoming corporate earnings reports could influence future trends,” said Vaibhav Vidwani, Research Analyst, Bonanza.

STOCK PICKS

Oberoi Realty | Trade: Buy |CMP: Rs2,000 | Stop Loss: Rs1,940 | Target: Rs2,100

Analysis: Oberoi Realty has recently broken out above the Rs1,950 level, signalling strong bullish momentum. With an RSI (14) reading of 67.4, the stock is in overbought territory, yet still showing upward strength. This momentum indicates further price appreciation toward Rs2,100. Strong buying interest and volume support suggest limited downside risk with a defined stop loss at Rs1,940. The overall trend remains positive in the short to medium term.

HDFC Bank | Trade: Buy | CMP: Rs1,680 | Stop Loss: Rs1,650 | Target: Rs1,725

Analysis: HDFC Bank has seen a breakout above Rs1,665, supported by a rising RSI (14) at 50.6, indicating increasing momentum. The stock shows resilience, with strong buying at lower levels, and is expected to test Rs1,725 in the near term. The risk-to-reward ratio looks favourable, with the stop loss placed at Rs1,650 to manage downside risks. The overall sentiment around the stock is positive, benefiting from recent momentum and market strength in banking stocks.

(Source: Riyank Arora,

technical analyst at Mehta Equities)

CMP (Current Market Price);

SL (Stop Loss)/All prices in Rs