Nifty View

The benchmark index Nifty has finally broken its six-week losing streak, closing with a healthy gain of 1.10% and reclaiming the 24600 mark. This rebound offers some relief after a prolonged phase of weakness, yet the momentum shows signs of tapering off, indicating a phase of consolidation.

Currently, the Nifty trades below its 20-day and 50-day EMA, reflecting underlying medium-term weakness. The daily RSI and MACD histogram suggest a cautious sentiment, with limited directional bias.

Bank Nifty View

Bank Nifty underperformed, posting a modest 0.61% gain and trading in its tightest weekly band since late August 2024. The index's indecisive phase around its 100-day EMA, below the 20-day and 50-day EMAs, signals a weak trend structure.

Stock Recommendations

Uno Minda Ltd shows a breakout above a downward-sloping trendline with strong volume, indicating a bullish trend. Accumulate in the 1155-1145 zone, targeting 1270.

HDFC Life breaks out above an Adam and Adam Double Bottom pattern, signaling a bullish reversal. Accumulate in the 790-780 zone, targeting 860.

Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own.