Nifty in a bear hug, needs to break above 26,100 levels: Analysts

The Nifty enters the new week on a weak footing after breaking key trend supports and short term moving averages, signalling a bearish bias. Persistent selling on intraday recoveries and rise in volatility suggest downside risks toward the 25,300–25,350 zone, while sentiment is unlikely to stabilise unless the index decisively moves back above the 25,900–26,100 resistance band.

HEAD OF ALTERNATE RESEARCH, MIRAE ASSET SHAREKHAN

Where is Nifty headed? The Nifty has broken below its ascending trendline and closed under the key 20-day moving average (DMA) of 26,062 and the 40-DMA at 25,970, confirming short-term weakness. Momentum indicators have flashed a negative crossover. The index could drift toward 25,300, with a “sell on rise” strategy advisable until a decisive break above the 26,100 resistance. A put-call ratio of 0.51 signals bearish sentiment, while volatility is likely to persist. Trading strategies Nifty (Positional): Sell on a bounce toward 26,000 for targets of 25,800 and 25,300, with a stop loss at 26,200. Avoid fresh long positions until a DEMA crossover reversal is seen.

LIC: Sell at Rs 830, stop loss at Rs 860, target Rs 750. The stock has broken a bearish flag pattern on the daily chart and is trading below its 20-day moving average. Momentum indicators have given a negative crossover, and the trend is expected to continue downward.

CAMS: Sell at Rs 727, stop loss at Rs 760, target Rs 650. The stock has broken a bearish triangle pattern on the daily chart and is trading below its 20-day moving average. Momentum indicators have turned negative, suggesting further downside.

SENIOR TECHNICAL ANALYST, LKP SECURITIES

TOP STOCKS Hindustan Zinc: Sell below Rs 606, stop loss at Rs 615, target Rs 585. The stock saw a pullback in the last session after sharp selling in the prior two sessions. While it recovered marginally, it faced resistance near the 38.2% Fibonacci retracement level before closing lower. The RSI is also exiting the overbought zone with a bearish crossover.

Emcure Pharmaceuticals: Buy at Rs 1,541, stop loss at Rs 1,494, target Rs 1,660. Stock has broken out of a 3-month consolidation, indicating pickup in buying. Technical indicators and overlays support positive momentum.

DHUPESH DHAMEJA RESEARCH ANALYST, SAMCO SECURITIES

TOP STOCKS The Ramco Cements: Buy at Rs 1,093.80, stop loss at Rs 1,035, target Rs 1,200. The stock is displaying a constructive bullish setup after forming a base above the rising 200-DEMA, with higher lows signalling accumulation on dips following the correction from the Rs 1,180 zone.

The upward turn in the 20-DEMA and 50-DEMA, supported by improved volumes and an RSI near 68, reinforces strong momentum without signs of exhaustion.

Endurance Technologies: Buy at Rs 2,622, stop loss at Rs 2,520, target Rs 2,810. The stock is showing early signs of a bullish reversal after a base-building phase, with a decisive breakout above the declining trendline signalling a shift in short-term structure. Sustained trading above the 200-DEMA at Rs 2,584 and the formation of a higher low point to improving price strength.