200 EMA breakout stocks: Shares of Adani Ports, NBCC and Emami are in focus; here's why

GIFT NIFTY indicates an 84-point gap down opening for Indian markets on Thursday. However, the overall chart structure for Indian markets remains bullish as the benchmark indices closed above the 200 EMA levels, indicating bullish momentum in Indian markets. Index.

Foreign institutional investors (FII) continued their buying spree in the Indian markets as they bought ₹3,936 crore into Indian equities. In addition to that, traders also took note of report that retail inflation dipped marginally to a nearly six-year low of 3.34% in March due to decline in prices of vegetables, eggs and protein-rich items, raising hope for a third rate cut by the RBI as it remains below the median target of 4%.

Amid weak global cues and strong domestic cues, some stocks continue to outperform and have formed a strong bullish setup on charts. Similar to the benchmark indices, a few stocks have crossed above their 200 EMA levels, indicating a bullish momentum in the stock.

Adani Ports

Shares of Adani Ports closed 1.83% higher on the NSE at ₹1,232 apiece, crossing its 200 EMA levels for the first time since November 2024. The shares closed above the 200 EMA level of ₹1,217 per share.

NBCC

Shares of India’s leading infrastructure and construction company, NBCC, closed 6.7% higher on the NSE at ₹95.8 apiece, much higher than its 200 EMA level of ₹90.9 apiece. The shares have hovered around their 200 EMA levels since October 2024. Experts believe the stock has broken the rising trendline pattern and could continue its bullish structure.

Emami

Shares of one of the leading FMCG players crossed its 200 EMA mark on Wednesday as they closed 3.6% higher at ₹626 apiece. The shares have crossed the 200 EMA mark since October 2024, indicating a change in momentum from bearish to bullish.