Mkt is largely positive

Mumbai, Oct 15

Today, the benchmark indices bounced back sharply. The Nifty ended 178 points higher, while the Sensex was up by 540 points. Among sectors, the Reality index was the top gainer, rallying over 3 percent, whereas despite strong intraday momentum, profit booking was seen in Media and Pharma stocks. Technically, after a gap-up open, the market maintained positive momentum throughout the day. On daily charts, it has formed a bullish candle and is also holding an uptrend continuation pattern, which is largely positive.

"We believe that 82,300 would act as a key support zone for day traders. As long as the market trades above this level, the positive sentiment is likely to continue," says Shrikant t chauha b.. On the higher side, it could move up to 83200-83400. On the flip side, a move below 82,300 would make the uptrend vulnerable. Below this level, traders may prefer to exit their long positions.

“ ”, says Shrikant Chouhan, Head - Equity Research, Kotak Securities.

Stock Picks

Bizz Buzz

HDFC AMC – Buy | CMP: ₹5,763 | SL: ₹5,600 | Target: ₹6,050 / ₹6,200

HDFC AMC is showing strong bullish momentum, trading near record highs with healthy volume support. The stock remains above all key moving averages, reflecting sustained investor confidence. RSI continues to trend upward, suggesting strength in momentum. A sustained move above ₹5,763 could take it toward ₹6,050 and ₹6,200. Traders may maintain a stop-loss at ₹5,600 to manage risk effectively.

IXIGO – Buy | CMP: ₹327 | SL: ₹310 | Target: ₹350 / ₹365

IXIGO has resumed its uptrend after a brief consolidation phase, supported by rising volumes and improving market sentiment in the travel tech space. The stock is comfortably above its short-term support zone of ₹310, with RSI signaling renewed strength. Sustaining above ₹327 can drive momentum toward ₹350 and ₹365. A stop-loss at ₹310 is recommended for fresh positions.

(Source_Riyank Arora Technical Analyst at Mehta Equities)

EoM.