The RBI’s rate cut lifted the markets for a second straight session, with financials, auto and real estate stocks leading the gains. The trend remains positive, with the index sustaining above the 21 EMA. Decoding the current setup, Rupak De, Senior Technical Analyst at LKP Securities, said the index has given a breakout from its recent consolidation on the hourly chart, indicating rising optimism. “The RSI has reclaimed a bullish crossover, pointing towards strong momentum. In the short term, the trend may remain strong, with the potential for the Nifty to move towards 26,300/26,440. Support is placed at 26,060–26,000. Buying on dips may be favoured as long as the index sustains above 26,000,” De said.
Here are 5 stock recommendations for Monday:
