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Russian (RU) Apr 27, 2025, 01:55:28 PM IST
The Indian market closed in the red for the second consecutive day in a row on Friday tracking geopolitical concerns.
The BSE Senses fell nearly 600 points while the Nifty50 managed to close just above 24,000.
ET Spotlight Special
Sectorally, buying was seen in IT while selling was seen in telecom, power, realty, utilities and power.
iStock
Stocks that hit fresh 52-week high include names like UltraTech Cement which rose 0.4%, Dalmia Bharat pared gains to close 0.8% lower and Anupam Rasayan India closed 0.4% higher on Friday.
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We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view:
Expert: Harshita Darak, Technical Research Analyst at Bonanza.
ET Bureau & Agencies
On the weekly timeframe, Ultratech Cement has successfully given a breakout above its all-time high, crossing the critical resistance zone of 12,130–12,150. This breakout signals strong bullish strength.
Additionally, the moving averages have started trending upward, further confirming a bullish trend and reinforcing positive price action.
From a momentum perspective, the RSI has broken out of its consolidation phase, indicating a strengthening momentum and suggesting more upside potential.
Looking ahead, as long as the stock sustains above 11,515 — which is aligned with the 9-period EMA — the stock is well-positioned to move toward the next potential targets of 12,750 and 13,000 in the coming weeks
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Dalmia Bharat closed at Rs 1,965.90, down by 8.20 (-0.42%) after hitting a new 52-week high of Rs 1,976.45.
The stock has given a breakout from a falling wedge pattern but formed a small-bodied candle with a long upper wick, hinting at selling pressure near highs. RSI stands at 66.83, showing bullish strength but near overbought zones.
The structure suggests consolidation around breakout levels. Key supports are Rs 1,958 and Rs 1,903. Avoid fresh entries at current levels.
A strong closing above Rs 1,976.45 (previous green candle high) could open doors for further gains. Momentum remains positive but confirmation is crucial for fresh entry.
ETMarkets.com
7/7
Anupam Rasayan: Buy on dips.
Anupam Rasayan closed at Rs 856.30, soaring by Rs 53.60 (+6.68%) this week and hitting a fresh 52-week high at Rs 868.10.
The stock delivered a strong bullish weekly candle with a significant volume spike, confirming a breakout above long-term moving averages.
The RSI is at 62.77, pointing towards strengthening bullish momentum without being overbought yet. Structure-wise, it has completed a multi-month rounding bottom breakout, suggesting a trend reversal. Key support zones lie at Rs 810 and Rs 780.
Overall outlook remains bullish; dips towards ₹820–810 can be seen as buying opportunities for a move towards ₹900–920 levels.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
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