Now Reading: Nifty faces key test; AIA Engineering, Cochin Shipyard top picks
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Nifty faces key test; AIA Engineering, Cochin Shipyard top picks
Nifty faces key test; AIA Engineering, Cochin Shipyard top picks
The Nifty benchmark index traded in its narrowest weekly range since December 2025, forming a doji candle that signals indecisiveness, the Times of India reports citing SBI Securities analyst Sudeep Shah. The…
The Story in Brief
The Nifty benchmark index traded in its narrowest weekly range since December 2025, forming a doji candle that signals indecisiveness, the Times of India reports citing SBI Securities analyst Sudeep Shah. The index faces a hurdle at 24,700-24,750; a sustainable move above 24,750 could drive it towards 25,000-25,200. Support lies at the 200-day EMA zone of 24,400-24,350. Bank Nifty, stuck in a 38-session range between 58,706 and 56,023, has its daily ADX at 11.49, the lowest since July 2021, suggesting no clear directional strength.
Stock picks include AIA Engineering, which broke out from a sideways 4,712-4,460 range and is recommended for accumulation at 4,740-4,790, targeting 5,125. Cochin Shipyard, which found support at 1,400 twice since June, is recommended at 1,505-1,525, with a target of 1,630.
The Indian Opinion
The narrowest weekly range in six months and a doji candle are not signals to panic. They confirm a pause, not a reversal. The lazy narrative that every consolidation must break down is as unhelpful as the one that insists every breakout immediately rallies. The real test is simple: will Nifty close above 24,750 this week, or will it slip below the 200-day EMA near 24,400? Watch that range.
Source: timesofindia.indiatimes.com
This story was synthesised by AI from the source linked above.
