The Indian stock market traded on a mixed note on Monday, with the Sensex slipping into the red while the Nifty held on to gains. A mix of headwinds and tailwinds kept investors cautious, following last week’s positive close that ended an eight-week losing streak. Given the prevailing market conditions, analysts treat the current rebound as a relief rally until the index demonstrates sustained strength above key resistance levels. Here are 5 stock recommendations for decent returns in the short term:
Persistent Systems has witnessed a strong rebound from its 200-DSMA, coinciding with a breakout above the neckline and sustaining its upward momentum. The counter has demonstrated relative outperformance within its sector, reflecting underlying strength. The recent resurgence further reinforces the positive technical outlook, with the stock trading above all its key EMAs and the 200-day SMA, indicating a constructive bullish bias.
Osho Krishan, Chief Manager - Technical & Derivative Research, Angel One
Physicswallah has staged a sharp rebound from its recent 200-day SMA, forming a V-shaped recovery on the daily chart. Further strengthening the bullish outlook, the MACD histogram has registered a trendline breakout above the zero line, signalling improving momentum. Collectively, the majority of technical indicators remain aligned positively, reinforcing the prevailing bullish undertone and supporting the potential continuation of the stock’s upward trajectory.
Osho Krishan, Chief Manager - Technical & Derivative Research, Angel One