Market Rally Sparks Bullish Momentum: GMR Airports, UNO Minda Among Top Picks

Indian equities saw a solid recovery on Tuesday, thanks to positive global signals and broad-based buying across most sectors. The BSE Sensex jumped by 1,089 points to end at 74,227.08, while the Nifty 50 shot up 374 points to close at 22,535.85. All major sectors saw gains, with banking, autos, IT, and FMCG leading the charge, renewed confidence in the Indian equity markets.

Nifty found a crucial support level near 21,800. This triggered a bullish candlestick formation on the charts. Now, a potential move toward the 22,950-23,000 range is on the radar, provided current momentum continues. The India VIX remains above 20, suggesting elevated volatility, especially with the policy meet of the Reserve Bank of India around the corner.

GMR Airports: Technical Breakout with Strong Momentum

The uptrend of GMR Airports is looking promising as it has recently broken through swing highs. This stock shows significant investor interest; it currently trades well above its 20, 50, 100, and 200-day moving averages, and it has recently emerged from a consolidation pattern. Buying this stock at its current price of 85.4 INR (around $1.10) and placing a stop loss at 83.6 INR (about $1.08) seems to be a reasonable trade.

UNO Minda: Reversal Pattern Signals Upside

UNO Minda seems to be reversing its recent downtrend. It has rebounded from a level of 767 and is currently moving up. The current price structure signals a shift from bearish to bullish. The stock is now targeting a previous lower top, which is just under 905. What should you do if you own this stock? Analysts suggest buying at 836, adding more near 820, and selling if the stock closes below 805.

Indus Towers & Credit Access Grameen: Chart Patterns Support Buys

Indus Towers has broken out of a rounding bottom formation on the daily charts, accompanied by bullish candlesticks and strong volume activity. The stock trades well above all the key moving averages, with an RSI (Relative Strength Index) value of 65.44. It is a buy at the current market price of 370, targeting 386, with a stop loss at 363.

Grameen Bank Access to Credit positions itself near the upper edge of a triangle formation on the formation of the weekly chart. It shows a positive bias, with the momentum indicators positioned near a bottom reversal suggesting this stock has potential to break upward. Buy at 997, add to that position on dips to 985, set a target of 1080, and a stop loss at 960.