The Indian stock market closed flat on Friday, with the Nifty 50 and Sensex making modest gains while the Nifty Bank index experienced a slight decline. The Nifty 50 closed at 24,823.15, up 0.047% or 11.65 points.
The BSE Sensex finished at 81,086.21, gaining 0.041% or 33.02 points. In contrast, the Nifty Bank index closed at 50,933.45, down 0.10% or 52.25 points. Weekly statistics reveal a more positive trend with the Nifty 50 gaining 1.15% or 282 points and the Sensex rising 0.81% or 649 points over the last week.
Nifty 50 Daily Chart: TradingView
This coming week, these stocks stand out as the top stocks to watch for their next move.
Infosys closed at Rs 1862.95 on Friday, dropping 0.97%. The stock is approaching its next target of Rs 1903, which coincides with an ascending trendline resistance. We are watching to see if INFY will break out or face rejection at this level. A break out could signal continued bullish momentum, while a rejection might lead to a drop towards the Rs 1730 horizontal support level.
Tech Mahindra showed bullish tendencies closing at Rs 1598.40 after a 0.80% drop on Friday. The stock has broken above the Rs 1569 recent high and ascending channel resistance, reaching a high of Rs 1633. It appears to be retesting the broken resistance zone before potentially continuing its uptrend. We are closely monitoring the stock’s behavior at this crucial resistance level in the coming sessions.
TCS closed at Rs 4463.90, down 0.85% on Friday. Despite this drop, the overall trend remains bullish. The next target for TCS is the recent high of Rs 4565. However, there are two fair value gaps below the current price that may attract the stock downwards before it continues its upward trajectory.
Mahindra & Mahindra closed Friday at Rs 2759, up 0.95%. The stock is trading towards its recent higher timeframe high of Rs 3013. However, in the lower timeframe, M&M is creating lower highs and lower lows, suggesting a potential drop to the ascending trendline and support low confluence around Rs 2500.
