Markets witnessed a sharp correction during the holiday shortened trading week, with benchmark indices declining in each of the four sessions amid geopolitical concerns and heightened uncertainty. The sustained weakness indicates that the previous week’s recovery has lost momentum, with investors becoming increasingly selective amid global uncertainties and the ongoing corporate earnings season. Corporate earnings will remain a key driver, with TVS Motor, Asian Paints, Trent, Sun Pharma, Bharat Electronics, Indian Oil, Bank of Baroda and GAIL India, among others, scheduled to announce their results.
Anand Rathi has witnessed a strong rebound from its 100-DEMA, aligning with a previous consolidation zone, and has reclaimed all key EMAs, signalling strengthening bullish momentum. The stock has demonstrated relative outperformance within its sector, highlighting its underlying resilience. The recent resurgence reinforces the positive technical outlook, with the counter trading near its lifetime high zone. Additionally, an ascending trendline breakout in the RSI further strengthens the bullish bias and momentum outlook.
Osho Krishan, Chief Manager - Technical & Derivative Research, Angel One
JSW Cement has entered a phase of firm consolidation following a sharp corrective move from the 142 zone, indicating the possibility of a trend reversal from oversold levels. The stock has reclaimed its 20-DEMA after an extended corrective phase, signalling improving price momentum. Additionally, the 14-day RSI has staged a U-turn from oversold territory, a pattern that has historically coincided with meaningful rebounds. This technical setup presents a potentially attractive risk-reward opportunity, subject to sustained momentum and confirmation.
Osho Krishan, Chief Manager - Technical & Derivative Research, Angel One