Indian equities logged one of their best weekly gains with the Nifty reclaiming 25,000 on a seven-session winning streak. Strong Q2 earnings, healthy October auto sales and firm GST collections set the stage, but Washington supplied the spark. The US midterm election verdict revived hopes of de-escalation in the Iran conflict and a softer line on tariffs.
Force Motors has staged a strong recovery from its historical support zone of Rs 16,500-17,000, which coincides with a previous consolidation range. The stock has reclaimed all key EMAs, indicating improving bullish momentum and underlying strength. Its resilient pullback structure further reinforces the positive outlook. Trading near previous swing highs, the counter appears poised for further upside, supported by a decisive RSI resistance breakout, signalling strengthening momentum.
ITC has registered a breakout from its downward-sloping channel over the past week, following a sharp corrective phase, indicating the potential emergence of a trend reversal from oversold levels. The stock has reclaimed its 20 and 50 DEMA, signalling improving price momentum. Furthermore, the 14-day RSI has rebounded strongly from oversold territory, historically associated with meaningful recoveries.Osho Krishan, Chief Manager - Technical & Derivative Research, Angel One
M&M is showing a strong bullish recovery, closing at Rs 3,127.50, up 5.59%, after rebounding from its recent low near Rs 2,750-Rs 2,790. The stock has formed a strong bullish candle and moved above its short-term moving average, indicating improving momentum and fresh buying interest.