Positive breakout charts: Sun Pharmaceuticals, Maharashtra Seamless and Cipla cross their 200-DEMA levels

Indian markets jumped nearly 2.5% from the lower levels and went into consolidation mode. The NIFTY 50 made a low of 21,964 and jumped nearly 700 points to 22,676, after which it consolidated near 22,500 levels. The SENSEX too climbed nearly 3% from the lower levels to consolidate near 74,200 levels. On a technical chart basis, the NIFTY50 and SENSEX have faced resistance at their 20 SMA levels of 22,560 and 74,524 respectively. Both the benchmark indices are trading far away from their 200 DEMA levels of 23,410 and 77,140 on daily charts, indicating some more room for upside.

However, few stocks have crossed their 200 DEMA levels after a recent fall, indicating a bullish momentum built up in these stocks.

Sun Pharmaceuticals

The shares of Sun Pharmaceuticals closed 1.2% higher at ₹1,704 on Monday and crossed its 200 DEMA level of 1,698 apiece on the NSE. The shares are down 13% from the record high levels last touched in September 2024.

Maharashtra Seamless

The share price of Auto-industry player closed 1.76% higher at ₹673 apiece on Monday crossing its 200 DEMA mark of ₹670 apiece on the NSE. Ths shares are down 17% from the 52-week high levels touched in December 2024.

Cipla

Shares of leading drug marker Cipla, jumped 2% at ₹1,492 apiece on Monday crossing its 200 DEMA level of ₹1,475. The shares are down 12% from the record high levels of ₹1,704 last touched in October 2024.

Apart from the above key stocks, the other stocks in the list include names like, Aadhar Housing Finance, Lupin, Glenmark Pharmaceuticals, PTC India Ltd, General Insurance Corporation and more.