Indian equity benchmark indices extended their rally for a second consecutive session, defying global market trends. The BSE Sensex surged 1,718.01 points (2.17%) to close at 81,028.02, while NSE's Nifty50 climbed 493.75 points (2.01%) to settle at 25,030.35. In this buoyant market, certain power and utilities stocks are drawing significant attention from traders.
Muthuselvaraj M, a Research Analyst at Mirae Asset Sharekhan, has offered insights into the trading prospects of Bharat Heavy Electricals Ltd (BHEL), Adani Power Ltd, and Cummins India Ltd for the upcoming sessions.
BHEL Share Target Price
BHEL shares have been consolidating on the weekly chart, trading within the Rs 365 to Rs 450 range. Analysts expect this upward trend to continue, potentially reaching targets of Rs 465–490 in the near to short term. The stock is currently trading above all short-term exponential moving averages, signaling a positive trend. Momentum indicators also show a positive and upward trajectory, suggesting the uptrend will persist.
Cummins India Share Target Price
Since July 2026, Cummins India has exhibited a 'lower top, lower bottom' pattern on the daily timeframe, indicating a downtrend. The share price is trading below all exponential moving averages, pointing to significant selling pressure. It may drift towards support zones at Rs 3,870 and Rs 3,350. While a pullback rally could occur if the stock recovers from an oversold state, the overall recommendation is a 'sell on rise' strategy until the stock surpasses Rs 4,350, as it is expected to remain in a negative to sideways trend.
Adani Power Share Target Price
Adani Power Ltd has turned positive, finding strong support at its recent swing low after correcting from the Rs 250 level. A breakout above Rs 215 suggests potential for the stock to move towards the Rs 250–270 range. Key support levels are identified between Rs 195 and Rs 175 for the short to medium term. The price is also supported by the 50-day and 20-day EMAs at Rs 198 and Rs 195, respectively, while the Relative Strength Index (RSI) remains resilient above 55. Analysts anticipate the stock to maintain its upward momentum in the near term.