Stocks on Analysts' Radar: Are 6 Equities Poised for a Potential Uptrend Next Week?

Market Remains Range-Bound, Convincing Breakout Needed for Next Phase

The Indian stock market is expected to remain in a range-bound phase until a convincing breakout takes shape, according to Sudeep Shah, the Head - Technical and Derivatives Research at SBI Securities. Shah has advised buying Endurance Technologies, Yatharth Hospital and Trauma Care Services, SAIL, Varun Beverages, Axis Bank, and Siemens for next week.

Endurance Technologies and Yatharth Hospital Show Strong Technical Breakouts

Endurance Technologies has witnessed a strong technical breakout backed by a notable rise in volumes, while Yatharth Hospital has entered a strong bullish phase after delivering a fresh breakout on the weekly chart by closing above its previous swing high. Both stocks have shown significant buying interest and are expected to continue their upward trend.

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Nifty 50 Expected to Remain Range-Bound

For the past eight sessions, Nifty 50 has been confined to the 23,860–23,262 range. A notable feature during this period has been consistent gap openings—either on the upside or downside—limiting clean intraday trading opportunities. The 20-day and 50-day EMAs have lost their downward momentum and begun flattening out. The daily RSI has been stuck in a narrow 44–47 band over the last seven sessions, indicating a clear lack of momentum.

Market Breadth Weakened, Narrow Participation Precedes Decisive Move

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Across the market, most sectors are also locked in consolidation, mirroring the index’s behavior. Market breadth has weakened, with only a limited set of stocks driving whatever momentum exists, while the majority remain inactive. Such narrow participation often precedes a more decisive move, as the market prepares for its next directional shift.

Range-Bound Market to Remain Until Convincing Breakout

From here, the index is expected to remain range-bound until a convincing breakout takes shape. The 23,850–23,900 zone on the upside is likely to act as a key resistance barrier, while the 23,400–23,350 region should offer immediate support on declines. A breakout beyond either end of this contracting range will be critical in shaping the next phase—whether it evolves into a sustained trend or leads to heightened volatility.

SAIL and Bank Nifty Expected to Continue Uptrend

While SAIL has witnessed a sharp rally in recent sessions, the overall technical structure continues to remain bullish. The stock has rebounded strongly from its 20-day EMA on the daily chart, indicating sustained buying interest at lower levels. On the weekly chart, the rising ADX reflects strengthening trend momentum, suggesting the uptrend still has legs. Bank Nifty has shown relative strength compared to the broader indices over the past week and is expected to continue its uptrend.

Varun Beverages and Siemens Expected to Extend Rally

Varun Beverages has turned technically strong after delivering a Stage-2 cup pattern breakout on the daily chart, supported by a sharp surge in volumes. The stock has rallied nearly 11% since taking support near its 20-day EMA on May 13, indicating sustained buying interest at lower levels. Siemens appears technically strong for the near term after delivering a consolidation breakout on the daily chart. Momentum indicators are also supportive, with the RSI gradually moving higher and sustaining near the 60 mark, reflecting healthy bullish momentum.

Recommendations for Next Week