Market Overview

Last week, the benchmark index Nifty ended in the red for the third consecutive week, reflecting sustained bearish sentiment in the market. On the weekly chart, it has formed a bearish candle with a lower high and lower low’s structure — a classic indication of downward momentum.

Nifty View

The index is now trading decisively below the 20-day EMA, which has started to edge lower, further reinforcing the bearish undertone. Additionally, the upward slope of the 50-day and 100-day EMAs has begun to flatten, signalling a potential loss of medium-term momentum.

Bank Nifty View

The banking benchmark index Bank Nifty also extended its losing streak, ending in the red for the third consecutive week. On the daily chart, it witnessed a breakdown from a Rising Wedge pattern on Friday and also slipped below its 20-day EMA, which is a sign of growing bearish pressure.

Stock Recommendations

Dalmia Bharat: The stock has given a consolidation breakout along with robust volume. Currently, all the moving averages and momentum-based indicators are suggesting strong bullish momentum in the stock.

Godrej Properties Ltd: The stock has taken a support near 2192 level and thereafter witnessed a sharp rebound along with relatively higher volume. Currently, the stock is trading above its short and long-term moving averages.