by Mr. Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities
🕗 Last Updated: 29 June 2026, 8.00 PM
Analysis for 30 June 2026
After showing weakness from the crucial resistance of around 24200 on Thursday, Nifty continued with decline amidst choppy movement on Monday and closed the day lower by 109 points. After opening on a flat note, the market failed to sustain the early session bounce and later slipped into weakness amidst range movement in the mid to later part of the session.
A small negative candle was formed on the daily chart with minor upper and lower shadow. Technically this market action signals failed breakout of the hurdle and also range movement at 24200 levels. This could signal more weakness down to the lower range of around 23800 likely ahead.
The short-term trend of Nifty has turned weak with range bound action. There is a possibility of more choppy movements in the next 1-2 sessions before bouncing back again from the lows. The next lower supports to be watched at 23800 levels and immediate resistance is placed at 24250.
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Stock recommendations by Nagaraj Shetti
Stock Recommendations by Nagaraj Shetti (HDFC Securities)
Senior Technical Analyst Nagaraj Shetti has identified a select group of stocks showing strong chart setups and momentum for short-term traders.
According to him, the near-term market structure remains supportive for selective long positions, especially in scrips showing breakouts above key resistance levels and higher-high formations on the daily chart.
Shetti recommends traders focus on stocks with rising volumes and bullish crossover patterns on the short- and medium-term moving averages.
He advises maintaining strict stop-loss levels and booking partial profits near resistance bands.
These recommendations are part of his latest weekly outlook published in Chanakya Ni Pothi, providing guidance on potential outperformers for the coming sessions.