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Hans India
9 hours ago
- Business
- Hans India
Will Nifty 50's breakout above 25,000 drive a rally to 25,300?
The NSE Nifty 50 index reclaimed the 25,000 mark on Wednesday, closing at 25,141.40—its highest level since October 14. This move follows a tight three-day consolidation between 25,055 and 25,222, reflecting a brief pause in market momentum. According to analysts, the breakout signals a renewed bullish trend. 'The market was in a breather phase post-rally, but this breakout opens up room for further upside,' said Sudeep Shah of SBICAP Securities. However, Shah also noted that the Relative Strength Index (RSI) remains range-bound, suggesting limited short-term strength. Akshay Chinchalkar of Axis Securities emphasized the significance of the move, calling it a breakout from a bullish consolidation with an upside target of 25,800. He pointed to the strong performance of small- and mid-cap stocks as evidence of growing investor risk appetite. External factors are also aligning favorably. Easing US dollar strength, stabilizing interest rates, and reduced volatility are boosting investor sentiment, particularly with positive cues around India-US trade talks. Of the 50 Nifty stocks, 28 advanced while 22 declined. The index touched an intraday high of 25,222.4, reinforcing the breakout narrative. Bajaj Broking projects a further move towards 25,300 and 25,500 in the near term. 'Dips should be seen as buying opportunities with strong support at 24,900–25,000—the recent breakout zone,' the firm noted. Market watchers now eye 25,300 as the next major resistance level. A decisive move beyond 25,222 could spark further gains, while a fall below 25,055 may trigger short-term profit booking.
Mint
10 hours ago
- Business
- Mint
NSE Nifty 50 reclaims 25,000, next hurdle at 25,300
The Nifty 50 index, which had been hovering just below the 25,000 mark, surpassed the key milestone on Wednesday and closed at 25,141—a level last seen on 14 October. Over the past three trading sessions, the index had been consolidating within a narrow range of 25,055 to 25,222, signalling a pause in momentum and a lack of clear conviction from both bulls and bears, according to market experts. Now that it has broken its consolidation phase, experts say the index is headed for an upward move. 'The consolidation suggests that the market is currently taking a breather after a recent rally, awaiting fresh triggers for the next leg of the move,' said Sudeep Shah, deputy vice president and head of technical & derivatives research at SBICAP Securities. The Relative Strength Index (RSI) on the daily timeframe is also showing signs of exhaustion, as it remains range-bound and lacks further upside traction, which indicates reduced strength in the short term, despite the index holding at higher levels, he said. Akshay Chinchalkar, head of research at Axis Securities, said that Nifty has essentially broken out of a bullish consolidation pattern, which targets 25,800. 'The view is supported by the more risky pockets–smallcaps and midcaps–outperforming, which is a sign of increased risk appetite from investors.' Chinchalkar said the US dollar, US interest rates and volatility are currently serving as tailwinds, further feeding into investor optimism that India-US trade negotiations will be struck without any downside surprises. The Nifty 50 index closed 0.15% up at 25,141.40 after touching an intraday high of 25,222.4 on Wednesday. Within the index, 28 stocks advanced, while 22 declined. Shah said that a breakout above the 25,222 level could reignite bullish momentum and pave the way for further gains towards 25,500 level, while a dip below 25,055 may lead to mild profit booking. The Nifty 50 index could head higher towards an immediate hurdle of 25,300 and then towards 25,500 in the coming weeks, said Bajaj Broking in a note. 'Dips in the coming sessions should be used as a buying opportunity with immediate short-term support placed at 24,900-25,000 levels being the recent breakout area.' The top sectoral gainers on Wednesday were the Nifty IT index (1.26%), Nifty Pharma index (0.5%) and the Nifty Energy index (0.3%).
Time of India
3 days ago
- Business
- Time of India
RITES shares in focus after MoU with Hindustan Copper to build critical mineral supply chain
RITES Ltd shares are likely to attract investor interest on Monday, June 9, following the announcement that the company has signed a strategic Memorandum of Understanding (MoU) with Hindustan Copper Limited (HCL) to jointly build a robust and self-reliant mineral supply chain . 'RITES Ltd., the leading Transport Infrastructure Consultancy and Engineering firm, today signed a Memorandum of Understanding (MoU) with Hindustan Copper Limited (HCL), a CPSE under the Ministry of Mines, to jointly develop a rapid, reliable, and sustainable supply chain of metals and minerals, including critical minerals in India and overseas,' the company informed via its regulatory filing. In its press release, the transport infrastructure consultancy and engineering firm said the MoU aims to facilitate the development of a rapid, reliable, and sustainable supply chain of metals and minerals, with a focus on critical minerals, both in India and internationally. HCL, a Central Public Sector Enterprise under the Ministry of Mines, will collaborate with RITES in exploration, extraction, refining, and production activities. The partnership will also include participation in mineral block auctions and the development of mining infrastructure. RITES will extend end-to-end consultancy and logistics support for project planning, multimodal transport solutions, infrastructure development, and rolling stock support to enhance HCL's mining operations. Live Events This MoU is expected to further the government's agenda of mineral security and economic resilience by fostering sustainable growth in the mining and infrastructure sectors. Also read: F&O Talk | June series shows positive bias for Nifty, Bank Nifty over 18-year trend: Sudeep Shah RITES share price performance The stock of RITES has recorded a 1-year decline of 7.20%, indicating a negative return over the longer term. However, on a year-to-date (YTD) basis, the stock is up 1.63%, and the 6-month return stands at a modest 1.37%. In contrast, the 3-month performance has been strong with a 41% gain, while the 1-month return is also robust at 35.37%, reflecting a sharp recovery in recent weeks. On Friday, RITES shares closed nearly 3% lower at Rs 300.05 on the BSE. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
3 days ago
- Business
- Time of India
RailTel shares in focus on bagging 2 government orders worth Rs 259 crore
RailTel Corporation of India (RailTel) shares are likely to be in the spotlight Monday, June 9, following the announcements that the company has secured two significant work orders worth a cumulative Rs 258.96 crore from government entities in Bihar and Himachal Pradesh. Here are the details: Order 1: Rs 243 crore contract from Bihar Education Project Council As per a regulatory filing, RailTel received a work order from the Bihar Education Project Council (BEPC) for the supply of Student Kits to students of classes 1 to 12 at government schools across Bihar. The contract is valued at Rs 2,43,11,35,577 (including tax) and is scheduled to be executed by August 14, 2025. The order has been classified as a domestic supply contract. RailTel confirmed that the transaction does not fall under related-party transactions and that no promoter group interest is involved. Live Events Order 2: Rs 15.96 crore order from Himachal Pradesh's Education Department In a separate order, RailTel also received a contract worth Rs 15,96,54,450 from the Department of Education, Samagra Shiksha, Himachal Pradesh. This contract entails the supply of UPS systems and printers to 5,507 government schools across the state. Similar to the Bihar order, this contract is also a domestic supply order with no involvement of related parties. The execution deadline for this contract has been set for October 6, 2025. Also read: F&O Talk | June series shows positive bias for Nifty, Bank Nifty over 18-year trend: Sudeep Shah RailTel share price history The RailTel stock has delivered a 17.42% gain in the past 1 year, while the year-to-date (YTD) return stands at 9.67%. Over the last 6 months, the stock is up by a modest 1.90%, whereas the 3-month return is significantly higher at 50.16%. Notably, the 1-month performance shows a sharp rise of 46.62%, indicating strong recent momentum. On Friday, RailTel shares closed 3.7% lower at Rs 444.10 on the BSE. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
3 days ago
- Business
- Economic Times
RailTel shares in focus on bagging 2 government orders worth Rs 259 crore
RailTel Corporation of India (RailTel) shares are likely to be in the spotlight Monday, June 9, following the announcements that the company has secured two significant work orders worth a cumulative Rs 258.96 crore from government entities in Bihar and Himachal Pradesh. ADVERTISEMENT As per a regulatory filing, RailTel received a work order from the Bihar Education Project Council (BEPC) for the supply of Student Kits to students of classes 1 to 12 at government schools across Bihar. The contract is valued at Rs 2,43,11,35,577 (including tax) and is scheduled to be executed by August 14, order has been classified as a domestic supply contract. RailTel confirmed that the transaction does not fall under related-party transactions and that no promoter group interest is involved. ADVERTISEMENT In a separate order, RailTel also received a contract worth Rs 15,96,54,450 from the Department of Education, Samagra Shiksha, Himachal contract entails the supply of UPS systems and printers to 5,507 government schools across the state. ADVERTISEMENT Similar to the Bihar order, this contract is also a domestic supply order with no involvement of related parties. The execution deadline for this contract has been set for October 6, 2025. Also read: F&O Talk | June series shows positive bias for Nifty, Bank Nifty over 18-year trend: Sudeep Shah ADVERTISEMENT The RailTel stock has delivered a 17.42% gain in the past 1 year, while the year-to-date (YTD) return stands at 9.67%. Over the last 6 months, the stock is up by a modest 1.90%, whereas the 3-month return is significantly higher at 50.16%. Notably, the 1-month performance shows a sharp rise of 46.62%, indicating strong recent momentum. On Friday, RailTel shares closed 3.7% lower at Rs 444.10 on the BSE. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
