Rupak De, Senior Technical Analyst at LKP Securities, said the index is trading below the 21-hour EMA, indicating sustained short-term bearish momentum. Additionally, the RSI has entered a bearish crossover, reinforcing the negative bias. “Given the prevailing market uncertainties, a sell-on-rise approach may remain suitable in the near term. Technically, any rebound towards 23,500 could face selling pressure, as this level is likely to act as an immediate resistance. On the downside, a break below 22,800 may lead to further weakness in the market,” De said.

Here are 2 stock recommendations for Monday:

Buy ACME Solar at Rs 269 | Upside: 15% | Stop Loss: Rs 245 | Target: Rs 290/310The structure is turning bullish as the stock has given a breakout above its recent consolidation zone near Rs 255 – Rs 260, supported by rising volumes and improving momentum indicators, with RSI sustaining above 60. Price is also holding above key moving averages, indicating strength in trend continuation. The breakout zone is likely to act as immediate support on dips. Traders can consider a buy around Rs 265 – Rs 270 with a stop-loss at Rs 245, while on the upside, the stock has potential to move towards Rs 290 – Rs 310 in the near term if momentum sustains.

(Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)

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Buy Dalmia Bharat at Rs 346 | Upside: 16% | Stop Loss: Rs 310 | Target: Rs 380/400The structure for Dalmia Bharat Sugar and Industries Limited has turned bullish as the stock has given a strong breakout above its key resistance zone near Rs 330, supported by a sharp rise in volumes and positive momentum indicators, with RSI sustaining above 60. The price is now trading above key moving averages, indicating a potential trend reversal after a prolonged decline. The breakout zone around Rs 325 – Rs 330 is likely to act as immediate support on dips. Traders can consider buying around Rs 340 – Rs 345 with a stop-loss at Rs 310, while on the upside, the stock may move towards Rs 380 – Rs 400 in the near term if momentum sustains. (Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)