Market Outlook: Key Considerations for Trading NLC India, KSB, Titan Company, Adani Power, Nykaa, Natco Pharma, and Other Equities on April 6

Market Rebounds with Improved Breadth on April 2

The benchmark indices showed a smart recovery from the day's low and closed moderately higher on April 2, with improving market breadth. About 1,881 shares advanced against 1,098 declining shares on the NSE, indicating a shift in investor sentiment. However, bearish sentiment may prevail amid consolidation, with a continued focus on Middle East tensions.

Technical Trading Ideas

Jay Mehta, Technical Research at JM Financial Services

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NLC India

NLC India has broken out above a multi-month consolidation range and a resistance trendline, with strong volume participation indicating clear accumulation. The price is trading above all key EMAs, which are sloping upward. The RSI holds above 55 in bullish territory, and DMI/ADX confirm strengthening trend momentum. The stock exhibits superior relative strength versus the Nifty 50 and Nifty 500. The overall structure favors a continuation of the upmove.

Strategy: Buy

KSB

KSB has broken out above a long-term descending trendline and triangular consolidation, with healthy volume expansion confirming buyer participation. The price now trades comfortably above all key EMAs, with upward-sloping averages. The RSI is in bullish territory above 60, while DMI shows +DI above -DI with a rising ADX, indicating a strong trending move. The stock is displaying better relative strength compared to both the Nifty 50 and Nifty 500.

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Strategy: Buy

Thermax

Thermax has given a clear breakout above a long consolidation wedge pattern, with volume expanding significantly during the breakout in recent sessions, indicating strong buyer interest. The price now trades above all key EMAs, with upward slopes. The RSI is in bullish territory above 57, while +DI is trading above -DI. The stock is showing better relative strength compared to the Nifty 50 and Nifty 500.

Strategy: Buy

Rajesh Bhosale, Technical Analyst at Angel One

Titan Company

Titan Company recently delivered a multi-month breakout above the Rs 3,850 zone, followed by strong upward traction. This breakout level is now acting as solid support, with prices forming a "double bottom" pattern around the same area. On the weekly timeframe, a bullish engulfing candle near this key support signals a likely resumption of the primary uptrend.

Strategy: Buy

Adani Power

Adani Power had been facing stiff resistance around the Rs 155 zone for several months; this level has now been decisively breached, confirming a strong channel breakout. Technically, the stock has also closed above the 61.8% retracement of the recent decline from its all-time highs, indicating a resumption of the primary uptrend. Volume analysis further supports this strength, with higher volumes seen during upmoves and relatively lower volumes during declines.

Strategy: Buy

Godawari Power and Ispat

Godawari Power and Ispat has been consolidating within a range over the past few months, and a strong breakout from a "symmetrical triangle" pattern is now visible. Additionally, prices are trading well above key moving averages, indicating a sustained bullish undertone in the counter.

Strategy: Buy

Om Mehra, Technical Research Analyst at Samco Securities

Avenue Supermarts

Avenue Supermarts has delivered a strong breakout above the Rs 4,000–4,050 zone, which had capped the stock over the past few weeks. The move has come with a wide bullish candle and a visible pickup in volumes, indicating active participation in the breakout. The stock has also reclaimed the 20-day moving average and is now trading comfortably above Supertrend support, suggesting a shift in short-term momentum.

Strategy: Buy

Hitesh Tailor, Technical Research Analyst at Choice Broking

Nykaa

Nykaa was consolidating near the Rs 232–236 support zone, where it had formed a short-term base over the past few sessions. Multiple attempts to break below this level have been absorbed, and the stock has formed a strong bullish engulfing pattern. Volumes have remained relatively stable.

Strategy: Buy

Natco Pharma

Natco Pharma is showing strength after forming a base near lower levels, followed by a bullish golden crossover and support at the 50-day EMA. The stock has rebounded sharply and formed a strong bullish candlestick, engulfing the previous day's range, indicating continuation of the uptrend.

Strategy: Buy

Welspun Corp

Welspun Corp is showing early signs of strength after a phase of accumulation near key EMA supports, followed by a strong rebound. The stock has engulfed the previous four-day range, indicating robust buying interest and a potential shift towards an uptrend.

Strategy: Buy