Domestic market continued on its sharp sell-off mode as the ripple effects of hawkish RBI policy weighed on rate-sensitive sectors, effectively resetting near-term valuation multiples. This headwind was further amplified by persistent FII outflows, harder bond yields, and a depreciating rupee. Looking ahead, analysts say the market focus shifts to the Q2 earnings season, where management commentary on demand sustainability and input cost absorption will provide critical near-term direction.
Here are 2 stock recommendations that could offer good returns in the medium term
Brooks Laboratories: Buy at 70.5-71 | Stop loss: 60 | Target: 90
Brooks Laboratories demonstrates a decisive breakout from a downward slanting channel pattern on the 1-hour chart, pushing to 70.53 (+0.00%). Trading comfortably above its key hourly 20/50/100/200 EMAs with expanding volume and a bullish RSI crossover past signal lines into strong territory, the setup confirms accelerated upside momentum toward 90.
Virat Jagad, Sr Technical Research Analyst at Bonanza
Deepa Jewellers: Buy at 232-234 | Stop loss: 222 | Target: 250
Deepa Jewellers demonstrates a decisive horizontal resistance breakout above the 220–222 consolidation zone on the daily chart, pushing to 232.80 (+2.53%). Trading comfortably above its short-term moving average with strong volume expansion and a bullish RSI curling sharply upward past signal lines, the setup confirms accelerated upside momentum toward 250.00.
Virat Jagad, Sr Technical Research Analyst at Bonanza
Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and his ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclosures here.
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Market Trading Guide: Deepa Jewellers among 2 stock recommendations for Friday
Indian markets remained under pressure as hawkish RBI policy, persistent FII outflows, rising bond yields and rupee weakness weighed on sentiment. Amid the sell-off, analysts identified Brooks Laboratories and Deepa Jewellers as medium-term opportunities based on bullish technical breakouts.
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This story was reported and first published by The Economic Times on 8 October 2026. HUE Legacy Ventures did not write it.
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