The Nifty 50 barely moved this week, staying between 26,009 and 26,235, leaving traders waiting for a clear direction.
Market overview
Trading was quiet as investors adjusted their positions for the year‑end. The index is likely to react to global cues, the rupee’s movement, and foreign institutional investor (FII) activity next week.
Key technical levels
The biggest hurdle for the Nifty is around 26,300. Below that, 26,000 acts as a strong demand zone. If the index slips under 26,000, it could linger around 25,700. A firm break above 26,300 would be needed to push the market toward 26,500.
Short‑term stock picks (1‑2 weeks)
Engineers India Ltd.
- Current price: ₹205.35
- Target price: ₹228
- Stop‑loss: ₹192
The share formed a solid base near ₹195‑₹200 and has just moved above its 200‑day EMA, a sign of growing bullish momentum. The daily RSI also broke out, indicating improving sentiment. Traders could consider buying around ₹204‑₹206.
Concor Ltd.
- Current price: ₹520.30
- Target price: ₹575
- Stop‑loss: ₹495
The stock is bouncing off a long‑term support level that has held since 2019. A bullish divergence on the daily chart and a weekly RSI near 45 suggest the downtrend is losing steam. A buying range of ₹515‑₹525 could be considered.
Texmaco Rail & Engineering Ltd.
- Current price: ₹140.09
- Target price: ₹156
- Stop‑loss: ₹130
Railway stocks are in good shape, and Texmaco Rail has reclaimed its 200‑week EMA, pointing to a medium‑term uptrend. The weekly RSI broke its downtrend line, and volumes are rising, which adds confidence. Buying on dips near ₹138‑₹140 may work.
Disclaimer
Remember, this is just one analyst’s view, not a guarantee. Do your own research or talk to a certified advisor before acting on any of these suggestions.