by Mr. Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities
🕗 Last Updated: 27 June 2026, 8.00 PM
Analysis for 29 June 2026
The reasonable bounce of the last two sessions seems to have halted at the hurdle of around 24200 levels on Thursday and Nifty closed the day off the highs.Â
A small negative candle was formed on the daily chart with long upper shadow. Technically, this market action signals a rejection for the bulls at the crucial overhead resistance. The market breadth was weak on Thursday, with broad market indices have settled with minor loss.
The near-term trend of Nifty remains positive amidst broader range movement. Having failed to surpass the crucial overhead resistance of 24200, one may expect further consolidation or minor dip by next week. Immediate support to be watched at 23800. A sustainable move above 24200 could open more upside in the near term.
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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.