Technical View

The weakness came on Nifty expiry day, making the session particularly important for traders as volatility can rise around the expiry of index derivatives.

According to experts, investors are resorting to opportunistic buying after the recent sell-off. In the first two weeks of March, the Nifty 50 index crashed 8% amid the Middle East conflict.

Nifty 50 has crashed 7% this month, entering the oversold zone. Experts suggest it may remain there for a while, with potential short-term relief rallies, but caution against expecting sustained recovery amid ongoing selling pressure.

Nifty has drifted below the 200-DMA near 25,150, which Santosh Meena of Swastika said is widely regarded as the dividing line between a long-term bull and bear market. He warned that a decisive close below this level would be technically catastrophic.

On December 12, India's stock market extended gains, buoyed by global sentiment after a US rate cut. Analysts forecast steady trading for Sensex and Nifty, emphasizing key support levels.

Mastek shares have gained 12% in the past month but are down 25% over the last year. Analysts from HDFC Securities recommend buying Mastek, citing strong revenue growth prospects from UK government digital initiatives and a positive outlook for US business growth.

Eternal share price: Goldman Sachs raised its 12-month target price for Zomato shares to ₹360 (from ₹340), reiterated Buy. It added that Blinkit accounts for 70% of the target price.

IREDA shares traded flat at ₹159.25, down 34% from its 52-week high. Analysts suggest a potential upward momentum, recommending a buy at ₹160.10 with a target of ₹186-200. Key support is at ₹145, while a breakout above ₹166 may unlock further gains.

HDFC Bank shares have remained stable for three months, closing at ₹977.35. Analysts suggest a strong outlook with support at ₹945 and resistance at ₹1000. A breakout above could lead to ₹1,060.

Servotech Renewable Power's stock has gained 10% recently due to order wins and acquisitions. The company has announced various projects, including a rooftop solar project and a trade agreement with Enovra Energy Solutions.