Indian equity markets ended the week on a strong note after a larger-than-expected cut in the repo rate and additional liquidity support through a CRR reduction fuelled investor optimism. The Nifty 50 jumped 252 points, or 1.02%, closing at 25,003, while the Sensex climbed 443 points, or 1%, to settle at 82,188.
This RBI-driven rally reversed the Nifty 50’s weekly performance into positive territory with a gain of 1.02%, while the Sensex ended the week up 0.91%.
Market Outlook for Next Week
With the Nifty 50 decisively breaching the 25,000 mark, analysts believe the market sentiment has turned bullish. According to Sumeet Bagadia, Executive Director at Choice Broking, if the index breaks above Friday’s high, it could target levels of 25,600 and 26,000 in the coming sessions.
Stock Picks for Monday, June 9
Sumeet Bagadia has identified three stocks with favourable setups for the week ahead — NCC, Mahindra & Mahindra (M&M), and Voltas. Below is a brief analysis of each:
NCC
- Current Price: ₹237.89
- Target Price: ₹260
- Stop-Loss: ₹225
NCC has exhibited a strong uptrend, forming higher highs and higher lows on the daily chart. The stock recently entered a consolidation phase near its swing highs, suggesting a healthy base-building process. A sustained move above ₹240 could confirm a breakout, potentially driving the stock toward ₹260. Technical indicators, including an RSI of 60.08, support a bullish outlook.
Mahindra & Mahindra (M&M)
- Current Price: ₹3,106.50
- Target Price: ₹3,425
- Stop-Loss: ₹2,950
M&M is consolidating within a classic flag and pole formation — typically a continuation pattern in strong trends. A breakout above ₹3,150 could trigger renewed upside momentum. The RSI, currently at 59.53, indicates strengthening momentum. The stock is also trading above key moving averages, reinforcing its bullish structure.
Voltas
- Current Price: ₹1,271.10
- Target Price: ₹1,400
- Stop-Loss: ₹1,205
Following a steep correction, Voltas has entered a sideways consolidation phase. Recent price action suggests that a breakout above ₹1,300 could pave the way for a move toward ₹1,400. The RSI stands at 52.50, indicating a positive momentum reversal. A move above key EMAs would further validate the bullish setup.
