Domestic markets witnessed a modest rebound on Thursday on dip-buying as oil prices eased, despite the recent US–Iran escalation. However, the recovery proved fleeting, weighed down by an increasingly fragile global backdrop. Banking and pharma stocks attracted buying interest, supported by resilient earnings, favourable RBI measures, and a shift toward defensive sectors. In contrast, mid and small caps saw profit booking after their recent outperformance, indicating signs of near-term consolidation.
Allied Blenders - Buy | CMP: Rs 608.45 | Stop-loss: Rs 585 | Target: Rs 655
Allied Blenders and Distillers Limited triggers a decisive bullish breakout above its key horizontal
resistance zone at Rs 595. This strong price action is validated by an expanding volume surge,
confirming robust institutional buying interest. The stock trades cleanly above all short- and long-
term EMAs, which are fanning out in a positive alignment, while the RSI climbs past 60 to signal
accelerating upward momentum.
Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio
JB Chemicals and Pharma - Buy | CMP: Rs 2252.7 | Stop-loss: Rs 2180 | Target: Rs 2400
JB Chemicals displays a robust bullish continuation structure, breaking cleanly above its intermediate resistance zone near Rs 2,230 to close at Rs 2,252.70. This strong price action is supported by expanding volume on up-days, confirming solid buying interest. The stock continues to trade comfortably above all its short- and long-term EMAs, which are in a perfect bullish alignment. With the RSI rising steadily above 60, upward momentum remains intact.
