The Nifty 50 index staged a solid recovery on Monday, closing 1% higher at 23,996.
The benchmark broke above its 55-day exponential moving average near 23,980, a technical level that traders view as a signal of strengthening bullish momentum in Indian equities.
The market’s technical improvement has prompted fresh short-term buy recommendations from domestic brokerage houses.
Amol Athawale, a technical analyst at Kotak Securities, identified three Indian stocks with favorable indicators, including Mahindra & Mahindra.
The analyst cited supportive market conditions and positive chart patterns as drivers for the short-term outlook.
Similarly, Ajit Mishra of Religare Broking highlighted Biocon, Mahindra & Mahindra, and United Spirits as candidates for upward momentum over the next one to two weeks.