Daijiworld Media Network- Mumbai

Mumbai, Jun 19: Equity markets opened on a cautious note on Thursday as investors stayed watchful ahead of the US Federal Reserve policy cues, with both Nifty and Bank Nifty trading within a narrow consolidation range. Despite the broader indices showing limited movement, stock-specific action remains active, and market experts are eyeing select opportunities for short-term gains.

Aakash K Hindocha, Deputy Vice President – WM Research at Nuvama Professional Clients Group, stated that Nifty continues to hover between the 24,650 and 25,050 range, with no clear breakout yet. Unless a decisive close is witnessed beyond these levels, the index is expected to remain rangebound. A breakout, when it comes, could trigger a sharp 500-point move. Similarly, Bank Nifty is poised between 55,400 and 56,200, with the potential to register a 1,000-point swing on breakout.

Amid this setup, Hindocha has identified three stocks with bullish potential—Kaynes Technology, Mahanagar Gas Limited (MGL), and Gland Pharma. Kaynes is showing signs of a rebound from its 200-day moving average after a sharp correction, indicating a possible 10–15% upside in the near term. MGL has broken past a key technical resistance with a seven-month high close, pointing to a fresh rally after months of consolidation. Gland Pharma, on the other hand, has shown a significant trendline breakout along with a higher low on the weekly chart, suggesting renewed momentum and potential gains in the sessions ahead.

With the market awaiting global triggers, particularly from the US, these stock-specific opportunities are being closely tracked by analysts looking for short-term trading advantages.