Technical analysts cautiously eye Nifty index this week, seeing potential gains toward 24,300-25,000 range if it clears critical resistance. This optimism follows three weeks of growth for India's benchmark indices,fueled by falling crude prices. But indices have recently lost most intraday gains with long weekend nearing.
Rajesh Palviya,Head of Research at Axis Securities,suggests a moderately bullish Call Spread strategy for July 7 expiry. Traders advised to buy one lot of 24,100 Call option at ₹195–175 while selling one lot of 24,400 Call option at ₹75–85. Break-even point at 24,220,max loss ₹7,800, max profit ₹11,700.
Among stocks, TVS Motor stands out. Priced at ₹3,569.70, target range ₹3,700-₹3,720, stop loss at ₹3,490. Stock broke above minor double-top formation, strong trading volumes supporting . Daily RSI over 60, shows strengthening bullish momentum.
Samvardhana Motherson International also a buy, at ₹151.70, target ₹160-₹162, stop loss at ₹144 . Stock surged 4.9% Thursday,0.8% futures open interest drop suggests classic short-covering rally. Weekly,monthly breakouts,highest single-day volume, price gain of month, reinforce upward trend.
Rohan Shah,Technical Analyst at Asit C. Mehta Investment Intermediates, notes Nifty index consolidating in corrective trend since April 2026. 20-week EMA limits upward moves . Breakout above 24,300 could boost technical outlook. Traders should buy Nifty futures above this, stop loss below 24,000,targets 24,800-25,000.
Oberoi Realty, priced at ₹1,749, recommended with target of ₹1,930, stop loss at ₹1,650 . Stock broke out of inverse head and shoulders formation,signaling bullish reversal. Breakout, strong trading volumes, suggests further upside.
Aurobindo Pharma,at ₹1,555,expected to keep strong performance. Stock broke out of multi-month cup-and-handle pattern on strong volumes, indicating likely continued upward momentum,target ₹1,725,stop loss at ₹1,475.
Sudeep Shah,Head of Technical & Derivative Research at SBI Securities,advises caution in current volatile market. Recommends avoiding overleveraged positions,adopt buy-on-decline strategy for quality stocks with strong technicals. Long Nifty position only on breakout above 24,200, stop loss at 23,950,target 24,650.
From sector view,select private banks,financials,pharma,healthcare,tourism,auto stocks expected to do well . But sectors like Nifty IT,CPSE,PSE,metals likely to face pressure,underperform near term.
Vijaya Diagnostic Centre,trading at ₹1,367,recommended target of ₹1,490-₹1,550, stop loss at ₹1,300. Stock above key moving averages,shows sustained bullish momentum. After six-week consolidation, strong breakout characteristics, buying support on dips.
Lastly, Mahindra & Mahindra Financial Services, priced at ₹328, also a buy,target ₹344-₹350,stop loss at ₹316 . Stock broke out of four-week consolidation, holding above key moving averages,indicating further upside potential.
