Positive breakout: Dmart, HDFC Bank and Voltas cross 50EMA on the daily chart

Benchmark indices opened higher on Thursday amid positive global cues.NIFTY50 and SENSEX have rallied nearly 2% from the lows and found resistance to 21EMA levels on a daily chart basis. The rally from the lows has ignited confidence in the investors and strong buying was seen in key indices like NIFTY Midcap 100 and Smallcap 100 which rallied more than 4% from near-time lows. The benchmark indices rally was led by metals and banking stocks like JSW Steel, Tata Steel, HDFC Bank and more. Many stocks have surged past their 20, 50 daily exponential moving average giving a positive breakout.

Avenue Supermart

Source: TradingView.com Shares of Avenue Supermart (Dmart) closed above its 50 DEMA (day exponential moving average) of ₹3651 on Wednesday, gaining 1% on the NSE.

HDFC Bank

Source: TradingView.com Shares of India’s largest private bank closed +1.5% higher on the NSE closing above its 50 DEMA of ₹1707. The shares have corrected nearly 10% from the 52-week high levels touched in December 2024.

Voltas

Source: TradingView.com

Shares of Voltas, India’s leading AC manufacturer, closed above its 50DEMA levels of ₹1,433 at ₹1,445 apice up by 2.8% on the NSE. The share price corrected more than 30% from the previous high levels touched in January 2025 and rebounded 27% from the near-time lows of ₹1,135 apiece. IMD’s forecast on intense summer in 2025 could drive demand for ACs higher, boosting investor sentiments.

Apart from above , other key stocks like Crompton Greaves, Balrampur Chini Mills, Eicher Motors, Godfrey Phillips, HomeFirst Finance, NLC India, Sundaram Finance crossed their 50 DEMA levels on Wednesday.