Ahead of the Reserve Bank of India's rate decision, market participants are likely to remain cautious, as was seen the previous day when the benchmarks ended flat after choppy trade
eClerx Services has also formed strong bullish candlestick pattern on the daily charts with above average volumes as the stock jumped more than 6 percent to Rs 1,715, the highest closing level since January 20, 2022. The stock has seen a breakout of last four-day consolidation.
Redington shares jumped 5.6 percent to Rs 184, the highest closing level since February 6 and formed strong bullish candlestick pattern on the daily scale, with above average volumes. The stock has seen a breakout of horizontal resistance trendline adjoining multiple touchpoints.
Dixon Technologies jumped over 5 percent to Rs 3,878.75, the highest closing level since January 3, 2023, and formed long bullish candlestick pattern on the daily scale with above average volumes. Largely, the stock has seen healthy uptrend in the second half of May.
Birla Corporation shares rallied 7 percent to Rs 1,092, the highest closing level since September 20 last year and formed robust bullish candlestick pattern on the daily charts with significantly higher volumes. The stock has been making higher highs, higher lows for third consecutive session.
Mahindra Lifespace Developers has formed long bullish candlestick pattern on the daily timeframe with robust volumes and making higher tops, higher bottoms for second straight session. The stock climbed 8.3 percent to Rs 440, the highest closing level since October 12 last year.
HDFC AMC has formed healthy bullish candlestick pattern on the daily charts with above average volumes, after Tweezer Bottom candlestick pattern formation in previous session, which is generally a short-term bullish reversal pattern. The stock climbed 5 percent to Rs 1,856 on the NSE.
Zomato shares gained 4.4 percent to settle at Rs 67.30, the highest closing level since December 2 last year, and formed long bullish candlestick pattern on the daily scale with above average volumes. The stock has given a nice breakout for the Mother candle of May 9, which is a positive sign, with trades above all key moving averages.
Mahindra CIE Automotive was also in action, rising 4.7 percent to end at record closing high of Rs 474.3 and formed long bullish candlestick on the daily charts with huge volumes. The stock has broadly maintained higher highs higher lows formation since the end of March.
Divis Laboratories continued to see healthy volumes for yet another session. It jumped 3.7 percent to Rs 3,385.8, the highest closing level since May 10 and formed long bullish candlestick pattern on the daily scale for second consecutive session.
Elgi Equipments has formed robust bullish candlestick pattern on the daily scale with significantly higher volumes. In fact, the stock has seen not only downward sloping resistance trendline breakout but also Mother candle breakout on the daily charts.
Mastek rose 6 percent to Rs 1,888, the highest closing level since September 13 last year, and formed long bullish candlestick pattern on the daily charts, with above average volumes. The stock has seen a decisive Mother candle breakout on the higher side on Friday, indicating potential continuation in the uptrend.
On May 18, HEG shares gained 1.5 percent at Rs 1,241.5, the highest closing since September 2 and formed a bullish candle with long upper shadow on the daily time-frame. The stock has been in a smart uptrend since the beginning of April despite intermittent correction and consolidation
Cyient has formed long bullish candle on the daily scale with above average volumes, with making higher tops higher bottoms formation for third consecutive session. The stock jumped 4.6 percent to end at record closing high of Rs 1,287.
PNC Infratech has seen bullish candle with upper and lower shadows on the daily scale as it rose 2.6 percent to Rs 319 on the NSE. It has seen a breakout of consolidation range, as well as, downward sloping resistance trendline adjoining highs of February 3 and May 8 this year.
Zensar Technologies has seen a strong buying interest, rising 13 percent to Rs 384.15, the highest closing level since April 8 last year, and formed robust bullish candlestick pattern on the daily charts, with significantly higher volumes on last both trading days.
Chalet Hotels shares gained more than 3 percent to end at record closing high of Rs 417.45, and formed bullish candle on the daily timeframe with significantly higher volumes. Overall, the volumes remained strong throughout last week.
Suprajit Engineering has formed robust bullish candlestick pattern on the daily timeframe, making higher highs-higher lows formation for three days in a row, with healthy volumes. The stock settled at Rs 403, the highest closing level since February 4 last year, up over 5 percent.
Jubilant Pharmova shares rallied nearly 6 percent to Rs 342 and formed bullish candlestick pattern with long upper and lower shadows on the daily timeframe, with strong volumes. The stock has been making higher tops, higher bottoms for the second consecutive session.
Varun Beverages shares rose over 3 percent to end at record closing high of Rs 1,505.5 and formed bullish candlestick pattern on the daily timeframe, though trading volume remained below average. The stock has seen a break out of Mother candle of May 2.
CSB Bank has formed bullish candlestick pattern on the daily scale, with making higher high higher low formation, as it rose over 4 percent to Rs 291.35, but still traded within the range of April 28.
Engineers India shares rallied over 6 percent to hit a multi-year high Rs 97.5 and formed bullish candlestick pattern on the daily scale with good volumes. The stock has seen higher tops, higher bottoms formation for second consecutive session.
ABB India continued to make higher highs, higher lows formation for eighth consecutive session, and formed long bullish candlestick pattern on the daily scale. The stock gained 5.55 percent to end at record closing high of Rs 3,645, continuing uptrend for eight days in a row, with strong volumes.
Rail Vikas Nigam sustained its uptrend for third consecutive session and registered strong rally (from Rs 77.50 to Rs 130) in last five out of seven days. The stock surged 10 percent to Rs 130 and formed long bullish candlestick pattern on the daily scale, with above average volumes.
Carborundum Universal has also decisively broken consolidation range and formed bullish candlestick pattern with making higher high higher low formation. The stock ended at record closing high at Rs 1,116, up 3.6 percent with above average volumes and traded above all key moving averages since April.