Indian benchmark indices extended their winning streak for a second consecutive session on Thursday, July 30, driven by broad-based gains in heavyweight constituents such as Reliance Industries and HDFC Bank.
The rally saw the Nifty 50 reclaim and sustain levels above critical technical resistance, signaling a shift in sentiment after a period of volatility earlier in the week.
Technical analysts are highlighting a group of mid-cap stocks that have broken out of consolidation patterns, suggesting further upside potential.
Sumeet Bagadia, a market strategist, identified five shares as primary candidates for accumulation: Avalon Technologies, Karnataka Bank, Tamilnadu Petroproducts, Atul Auto, and Ador Welding.
These recommendations reflect a rotation from large-cap defensives into cyclical and industrial names as market confidence stabilizes.
The positive momentum comes after the Indian market closed the previous holiday-shortened week in positive territory.