Mkt is largely positive

Today, the market continued its positive momentum. The Sensex was up by 324 points.

Among sectors, IT, Defense, and PSU Bank indices rallied over 2 percent, whereas the Auto index lost the most, shedding over 1.30 per cent.

Technically, the market opened with a gap up, but once again, it witnessed selling pressure at higher levels. However, the short-term outlook of the market remains positive. Additionally, after a long time, Nifty succeeded in closing above the 50-day SMA (Simple Moving Average), which is largely a positive sign.

“We are of the view that the 50-day SMA 81,200 and the 81,000 level will act as key support zones for traders. As long as the market trades above these levels, the bullish sentiment is likely to continue,” says Shrikant Chouhan of Kotak Securities..

On the higher side, the index could move up to 81,700-82,000. On the flip side, if the market falls below 81,000, traders may consider exiting their long positions.

Stock Picks

Prostarm – Buy | CMP: ₹219 | SL: ₹210 | Target: ₹235 / ₹245

Prostarm is showing strong upward momentum, supported by sustained buying interest near recent lows. The stock is trading above short-term moving averages, with volumes confirming accumulation. RSI is also trending upward, indicating bullish momentum. A sustained move above ₹219 could drive the stock higher toward ₹235 and ₹245. Traders may initiate fresh longs with a strict stop-loss at ₹210 to manage downside risks.

Aris Infra – Buy | CMP: ₹165 | SL: ₹158 | Target: ₹175 / ₹182

Aris Infra is witnessing steady buying momentum, with the stock holding firm above its support zone. Price action shows consolidation at lower levels, followed by renewed strength. Volumes are improving, and RSI signals further upside potential. Sustaining above ₹165 may open the path toward ₹175 and ₹182. Traders can consider buying at current levels with a stop-loss at ₹158 for risk management.

(Source- Mehta Securities)

EoM.