Indian equity markets slipped 0.4% on December 26, with the Nifty 50 down for a second day. With many shares falling, several stocks are forming strong bullish patterns that could offer short‑term buying chances.
Market Snapshot
Out of 2,869 NSE stocks, 1,763 fell while 1,106 rose. As long as the market stays below last week’s high, it may keep moving sideways, making individual breakout stocks worth watching.
IRCTC (Indian Railway Catering and Tourism Corp.)
The price broke above a long‑standing support zone near ₹656 and moved out of a descending channel that has been in place since May 2025. Higher volume and a positive RSI crossover confirm the move.
- Strategy: Buy
- Target: ₹750 – ₹780
- Stop‑Loss: ₹690
MCX India (Multi Commodity Exchange)
MCX is riding a rising channel and just broke a multi‑month resistance level at ₹10,517 with a strong bullish candle. The stock sits above its 20‑, 50‑, 100‑ and 200‑day moving averages, and the RSI is above 70, indicating strong momentum.
- Strategy: Buy
- Target: ₹11,600 – ₹12,000
- Stop‑Loss: ₹10,500
NBCC (India) Ltd.
After a period of consolidation, NBCC broke above a down‑sloping trendline near ₹120 and closed above the weekly Bollinger Band, signaling fresh bullish momentum. The RSI is firmly in positive territory.
- Strategy: Buy
- Target: ₹135 – ₹140
- Stop‑Loss: ₹118
Engineers India Ltd.
The stock emerged from a descending triangle with a clear breakout candle and a surge in volume. RSI has moved above 60, supporting the upward move.
- Strategy: Buy
- Target: ₹220
- Stop‑Loss: ₹198
NMDC Ltd.
NMDC finally broke out of a year‑long consolidation around ₹80, forming an inverse head‑and‑shoulders pattern and a bullish gap. Prices are well above key moving averages.
- Strategy: Buy
- Target: ₹92
- Stop‑Loss: ₹78
Titan Company Ltd.
Titan continues its higher‑high, higher‑low trend. After a short correction, it broke a multi‑month high with strong volume. RSI stays above 60 across time frames.
- Strategy: Buy
- Target: ₹4,200
- Stop‑Loss: ₹3,900
Adani Energy Solutions Ltd.
Following a 126‑day cup‑and‑handle breakout, the stock is consolidating between ₹960 and ₹1,020, creating a solid base. Moving averages are rising, and momentum indicators are normalising, making the next breakout around ₹1,020 a key trigger.
- Strategy: Buy
- Target: ₹1,100
- Stop‑Loss: ₹970
Biocon Ltd.
Biocon sits on rising weekly moving averages, forming a tight consolidation near the ₹420 neckline. Volume remains strong, suggesting institutional interest. A clean break above ₹420 could open the path toward ₹500, with a longer‑term aim near ₹700.
- Strategy: Buy
- Target: ₹500
- Stop‑Loss: ₹350
Karur Vysya Bank Ltd.
The bank completed a breakout from a bullish flag that rested on its 10‑week moving average. The move was backed by accumulating volume and a clear price surge, indicating institutional participation.
- Strategy: Buy
- Target: ₹299 – ₹325
- Stop‑Loss: ₹245
Disclaimer
These ideas are based on technical patterns and are not guaranteed. Remember, this is perspective, not a prediction. Do your own research and consider your risk tolerance before making any trade.