The Indian stock market is seeing a good week as it starts, with both Nifty 50 and BSE Sensex showing uptrend momentum. The Nifty 50 has gone up by +0.81%, rising 201.40 points to hit 25,024.55 mark as of writing. Also, the BSE Sensex has increased by +0.84%, adding 680.39 points to reach 81,766.60 mark.
Top 10 Gainers Today: NSEIndia
This growth is in line with the previous week’s trends which saw Nifty climbing up by 1.15% or by 282 pts while Sensex rose by 0.81% or 649 pts. The market remains strong as reflected in bullish trend across various sectors such as energy, technology and metals.
Technical Analysis and Performance of Top Gainer Stocks.
ONGC looks bullish today with price currently standing at Rs 328. This stock has been consistently moving higher. It is now targeting its recent high where double top formation can be seen on charts which suggests that it may either break out of this resistance to continue its uptrend or retrace back to the ascending trendline. For support, watch at the acsendingvtrendline if price pulls back before hitting the double top.
Hindalco is another top performer and is being traded at Rs 706.90 with a bullish outlook. The stock recently bounced off the horizontal support level around Rs 610, which signifies strong buying interest at lower levels. Hindalco’s next target is Rs 715 where it expects a higher high in the near future. This target for the coming days seems achievable given the consistent bullish momentum seen in the last few sessions. The break above Rs 715 can result in further gains that cement the bullish trend.
HCL Tech is currently testing a critical resistance level at Rs 1,700, a key psychological and technical barrier. The stock has demonstrated bullish momentum which originated from a double support zone formed by an ascending trendline and horizontal support around Rs 1,300. If HCL Tech manages to close above Rs 1,700 today, it could trigger a continuation of the uptrend. However, if the price faces rejection, it might form a double top, which could lead to a retracement.
Infosys is trading near Rs 1,882.60, inching closer to its next target of Rs 1,950, where an ascending trendline acts as a potential resistance. The stock has been on a bullish trajectory but whether it will breach Rs 1950 or meet a rejection remains debatable. If Infosys goes above this level, the bullish momentum would likely extend further. Same for a downward movement. If it gets rejected, it drops to Rs 1730 horizontal support level.
Tech Mahindra is currently trading at Rs 1,631 with strong bull strength shown in the prices. The stock has broken out of its previous resistance zone and now getting supported thereon. Such withdrawal if occurred would set up a base around this support area for further gains. It’s expected that the uptrend will continue with possible targets above current price levels making Tech Mahindra an attractive option.
