All major sectoral indices traded in positive territory

Mumbai: In the last week, the benchmark indices witnessed a stellar rally. After a promising rally, the Sensex was up over 4,200 points. Among sectors, all the major sectoral indices traded in positive territory, but Reality and Capital Market indices outperformed. The Reality index gained 12.85 per cent, and the Capital Market rallied 11.75 per cent.

Technically, on weekly charts, the market has formed a promising reversal pattern and also formed a long bullish candle, which is largely positive.

“We are of the view that the short-term market outlook has changed to positive from negative, but buying on corrections and selling on rallies would be the ideal strategy for traders,” says Amol Athawale of Kotak Securities. On the downside, 76,550 and 76,000 would act as key support zones, while 78,000 and 78,800 could serve as key resistance levels for the bulls. However, below 76,000, the uptrend would become vulnerable. Below this level, traders may prefer to exit their long positions.

STOCK PICKS

ACTION CONSTRUCTION EQUIPMENT LIMITED

BUY - 898-902 | STOP LOSS - 886 | TARGET - 939-949

Stock has closed above its weekly SAM200, confirming the trend reversal at double bottom around Rs. 777. On daily chart it is above SAM 20, 50 & 100, moving towards SMA 200. Momentum indicators are also pretty supportive, with RSI at 62 & MACD giving positive crossover from the below 0 area, gradually moving upwards

KRISHNA INSTITUTE OF MEDICAL SCIENCES LIMITED

BUY - Above 671 | STOP LOSS - 649 | TARGET - 689-699

Price has been consistently staying above SMA 200, with strong support of SMA 100 on weekly charts, it also has maintained very good bullish structure on the weekly. On daily basis, even though it is below SMA 200, it exhibits strong behaviour due to last 2 Bullish RSI divergences in march 2026. As of now RSI is above 50 levels, trying to moving upside and MACD has confirmed a very good bullish crossover.

(Source: Independent Market expert, Adib Noorani)