The Indian stock market reached new heights today, with the Nifty 50 closing at 25,246.80, marking a gain of 0.38% or +94.85 points within a daily range of 25,199.40 to 25,268.35.
Similarly, the BSE Sensex surged, ending the day at 82,365.77 with a 0.28% increase or +231.16 points and trading between 82,256.02 and 82,637.03.
Nifty 50 Index: TradingView
This positive momentum extended to several key stocks that were among the top gainers, each demonstrating strong bullish patterns and impressive statistical performances.
Cipla Ltd was one of the top performers today, opening at Rs 1,615.00 and reaching a high of Rs 1,663.70 before closing at Rs 1,654.60, up 2.23% from the previous close of Rs 1,618.55. The stock broke above its recent resistance level at Rs 1,600 indicating a continuation of the bullish trend. Cipla’s next potential target is around Rs 1,700 with support at the broken out Rs 1,600.
Bajaj Finance Ltd also showcased strong performance, closing at Rs 7,210.00, up 2.07% after opening at Rs 7,071.05. The stock has been moving within a well-defined descending channel which looks like a bullish flag in higher timeframe and is currently testing the resistance level signaling a potential breakout. If the breakout sustains, Bajaj Finance could target Rs 8,192 recent high, while bullish flag will act as a key support level if it breaks out.
Mahindra & Mahindra Ltd. showed steady gains, closing at Rs 2,812.00, up 1.97% from its previous close. Opening at Rs 2,780.00 and hitting a high of Rs 2,821.55, M&M is in a strong uptrend, consolidating above the Rs 2,800 level. A close above Rs 2,850 could signal further upside towards Rs 3,013, the recent high, with support around Rs 2,750.
Divi’s Laboratories Ltd gained 1.84% today, closing at Rs 5,105.00 after opening at Rs 5,019.50. The stock broke through the Rs 5,000 resistance level, indicating a bullish trend. Divi’s Laboratories could target Rs 5,425, with Rs 5,022 now acting as a crucial support level. The bullish sentiment is further supported by increasing volume and a positive trend in the pharma sector.
NTPC Ltd rounded out the top gainers, closing at Rs 417.20, up 1.78%. After opening at Rs 412.70, NTPC tested a high of Rs 419.20 and a low of Rs 411.50. With a potential breakout above Rs 420, the stock could see movement towards Rs 426, the previous high and next target.
On the downside, support lies around Rs 395, providing a cushion for any potential corrections.
