However, the Bank Nifty witnessed mild selling pressure and slipped by 89.80 points or 0.15% to close at 59,647.20, signalling some profit booking in financial names.
Top three stock picks by Ankush Bajaj for 5 December
Buy: Hindustan Copper Ltd (HINDCOPPER) — Current Price: ₹365.75
Why it’s recommended: Hindustan Copper continues to demonstrate strong technical momentum, supported by a bullish structure and consistent volume accumulation. The stock is trading near breakout territory after reclaiming key resistance levels. The daily RSI at 66 signals sustained buying interest, while the MACD at +3 maintains a bullish crossover above the signal line. An ADX reading of 32 suggests a well-established trend that is gaining strength.
Key Metrics: RSI (14-day): 66 — bullish zone
MACD (12,26): +3 — bullish crossover
ADX (14): 32 — strengthening trend
Technical View: A sustained move above ₹359 confirms a bullish continuation pattern, with upside potential toward ₹378 in the near term. Momentum indicators support the likelihood of a breakout extension.
Risk Factors: Being part of the metal space, the stock is sensitive to global copper prices, inventory levels, and commodity cycles.
Buy at: ₹365.75
Stop loss: ₹359.00
Target price: ₹378.00
Buy: Coforge Ltd — Current Price: ₹1,966.00
Why it’s recommended: Coforge is showing strong follow-through after breaking out from a consolidation band. The stock has surged with strong price action, supported by robust momentum. The daily RSI at 71 places it in overbought territory, but in trending stocks this often precedes further gains. The MACD at +44 continues to rise, and although the ADX is lower at 17, the price structure suggests breakout continuation.
Key Metrics: RSI (14-day): 71 — strong bullish momentum
MACD (12,26): +44 — bullish continuation
ADX (14): 17 — early-stage trend
Technical View: Staying above ₹1,935 keeps the bullish trend intact, with a target of ₹2,025 on the cards. The recent breakout zone near ₹1,950 should act as strong support.
Risk Factors: Being an IT services company, performance is sensitive to USD-INR movements, global tech demand, and margin guidance
Buy at: ₹1,966.00
Stop loss: ₹1,935.00
Target price: ₹2,025.00
Buy: Samvardhana Motherson International Ltd (MOTHERSON) — Current Price: ₹117.55
Why it’s recommended: Motherson is witnessing a steady uptrend backed by improving volumes and a solid base formation. The daily RSI at 66 reflects bullish undertone, while the MACD at +3 shows continued momentum above the zero line. The ADX at 18 indicates a trend in its early phase, offering a good risk-reward setup for short-term buyers.
Key Metrics: RSI (14-day): 66 — bullish momentum
MACD (12,26): +3 — positive and stable
ADX (14): 18 — trend gradually strengthening
Technical View: A close above ₹115.20 sustains the bullish structure. The stock looks poised to test ₹122 over the next few sessions, supported by broad-based auto sector strength.
Risk Factors: Exposed to global auto supply chain trends, EV transition risk, and forex fluctuations.
Buy at: ₹117.55
Stop loss: ₹115.20
Target price: ₹122.00
Market wrap
Sectoral performance was mixed during the session. The IT index led the gainers, rising 1.41% as heavyweight tech stocks rebounded strongly. Realty gained 0.54%, while FMCG and Pharma posted modest gains of 0.47% and 0.22%, respectively. The Auto and Public Sector Enterprise (PSE) indices also closed in the green, gaining 0.32% and 0.28%.
On the losing side, the Media index saw the steepest fall of the day, declining 1.45%. Energy, Infra, and Banking indices also ended marginally lower with losses ranging from 0.09% to 0.34%, indicating sectoral rotation and selective profit booking.
In terms of stock-specific action, Hero MotoCorp was the top performer, advancing 2.07%, followed by IndusInd Bank, which gained 1.90%. TCS, SBI Life, and Tech Mahindra also performed well, rising between 1.3% and 1.6%. Other notable gainers included Adani Enterprises, Infosys, and HDFC Life, all of which gained over 1%.
On the flip side, Coal India declined 0.99%, leading the losers, while BPCL and Hindalco each dropped 0.67%. Maruti Suzuki, Kotak Bank, and Titan also saw weakness, falling between 0.46% and 0.55%. ICICI Bank and HDFC Bank posted smaller declines of around 0.33% to 0.34%.
Nifty technical outlook
The Nifty 50 closed modestly higher on Thursday, December 4, 2025, gaining 47.75 points or 0.18% to settle at 26,033.75. This marks a relatively quiet session following the previous day’s sharp rally, with the index managing to hold above the psychologically important 26,000 level. While the broader trend remains positive, technical indicators are pointing toward short-term indecision and mild momentum fatigue.
From a moving average perspective, the index continues to trade above its key medium-term supports. The 20-day simple moving average (DMA) is now placed exactly at 26,033 — aligned with Thursday’s closing price — while the 40-day exponential moving average (DEMA) stands at 25,780. This technical alignment indicates a neutral to bullish structure in the medium term. However, the daily momentum indicators are beginning to show signs of slowing.
The daily RSI is at 55.24, reflecting neutral strength, while the MACD, though positive at 125.82, is flashing a ‘Sell’ signal due to flattening momentum. The Stochastic Oscillator, CCI, ADX, and Williams %R all remain in neutral zones, suggesting a lack of decisive trend direction in the short term. The ADX value of 17.41, in particular, points to a weak trend environment.
On the intraday charts, the Nifty is hovering just above the 20-hour and 40-hour moving averages — currently at 26,061 and 26,008 respectively. The hourly RSI has slipped to 45, and the MACD has turned negative at –27, signaling fading short-term momentum. The intraday setup indicates a likely continuation of sideways movement or a mild pullback unless fresh buying emerges near support levels.
The derivatives data presents a mixed view. Total Call open interest stands at 15.92 crore versus 12.82 crore for Puts, leading to a PE-CE OI differential of –3.10 crore, which is bearish in nature. However, the change in OI tells a slightly different story. Put OI rose by 2.60 crore while Call OI increased by only 1.14 crore, resulting in a net positive shift of 1.47 crore in favor of Puts — hinting at short-term bullishness or a support-based bounce. The Put-Call Ratio (PCR) stands at 0.81, indicating a slight bearish bias but improving from previous readings.
Key option levels reveal that the 26,000 strike holds the highest Put OI as well as the maximum additions, confirming it as a near-term support. On the upside, the 27,000 strike holds the highest Call OI, while 26,500 has seen the most fresh additions, making it an important near-term resistance level.
Summary & outlook: The Nifty remains structurally strong above the 25,780–26,000 zone, but signs of momentum exhaustion are becoming visible on both daily and hourly charts. As long as the index holds above 26,000, the medium-term bias stays positive. However, a lack of strong directional momentum suggests that the index may remain range-bound between 25,900 and 26,200 in the near term. A breakout above 26,200 could reignite bullish momentum toward 26,500, while a sustained drop below 25,950 may trigger a short-term corrective move toward 25,800.
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
Investments in securities are subject to market risks. Read all the related documents carefully before investing.
Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
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