Chartist Talk: Rahul Ghose bullish on Dabur, MCX India; expects Nifty to trade between 25,300 and 25,800 this week

Amber Enterprises witnessed a sharp 13% correction in recent sessions following weak Q2 results marked by a net loss and margin pressure. The decline appears driven by soft demand across key segments, suggesting further downside risk if broader market sentiment remains cautious.

Technically, the stock has taken support at the 200-day SMA, accompanied by a hammer candlestick formation. This suggests a short-term bounce as oscillators enter oversold territory. However, over the next 3–4 months, the stock is likely to trade sideways with limited upside potential. A sustained rally appears unlikely in the near term.

Do you expect the Nifty 50 to break last week’s low and extend the downward move toward the 25,000 zone, or is it more likely to consolidate with support near the previous week's low?

Nifty has found support around the small gap zone of 25,365–25,376 on the daily chart and formed a spinning top pattern, reflecting indecision. On the weekly timeframe, it continues to hover near previous resistance levels, forming a series of indecisive candles. Overall, the index is expected to move sideways in the 25,300–25,800 range in the coming week. A close above 25,800 could, however, trigger the next leg of the upward move.

Based on the charts, is this the right time to take exposure to Angel One?

From a trading perspective, exposure to Angel One can be considered. The stock has been consolidating within a broad range of Rs 2,400–3,000, with the current price around Rs 2,600, closer to the lower end. This presents a short-term trading opportunity for a positional play.

However, long-term investment exposure does not appear attractive at current levels, as the stock may again face resistance near the upper end of its range. A decisive breakout above Rs 3,300 would open room for fresh investment positions.

Considering the strong rally in September and October, followed by three weeks of consolidation, does Bank Nifty still look strong?

Bank Nifty continues to show strong momentum across all timeframes. On the monthly chart, it is trading within a rising channel, with the upper boundary near 59,800. The robust October monthly candle underscores firm bullish control.

Interestingly, unlike previous phases where private banks led rallies, this time public sector banks such as SBI, Bank of Baroda, and Canara Bank are driving the momentum and posting new highs consistently.

Are you still highly bullish on Hitachi Energy India and Shriram Finance?

Hitachi Energy India continues to deliver strong operational performance with double-digit margins supported by solid domestic demand and infrastructure investments. Shriram Finance also remains resilient with healthy collection efficiency and steady business momentum. Both stocks retain a positive long-term outlook given their fundamental strength and sector tailwinds.

On the charts, there are no significant resistance levels in sight. However, considering the sharp recent uptrend, investors may consider staggered entry or wait for a pullback before adding fresh positions.

What would be your top two stock picks for the current week?

Dabur India

Trading near the lower end of its range on both weekly and monthly charts. The daily chart shows a series of higher tops and higher bottoms, indicating good profit potential.

Multi-Commodity Exchange of India

Strong across daily, weekly, and monthly timeframes with a bullish engulfing candle on the daily chart supported by healthy volumes. No major resistance is visible in the near term.

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