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"Concerns on growth and financial stability point to easier than expected monetary conditions. If this contagion in the global banking system continues, monetary policy will continue to be easy, making it a good time to allocate some money to long duration bonds with a 5-10 year maturity." says Sandeep Bagla, CEO, Trust Mutual Fund.

Technical setup suggests that the momentum is not over yet. The momentum helped the stock hit a 52-week high of Rs 106 on March 17, 2023, and any dips towards 100 can be used as a buying opportunity, suggested experts.

BPCL was also in action, rising 2.35 percent to Rs 360 and formed bullish candle with long lower shadow on the daily charts, indicating support-based buying in the stock. The trading volumes remained strong in last three days, with the stock coming back above all key moving averages.

On the monthly timeframe, NALCO has formed a large bullish candlestick, which resembles a Bullish Engulfing pattern with a higher highs and higher lows formation, which is a positive sign

KPR Mill, which has shown a bullish trend since March 2020, has recently undergone a correction but has not fallen below the 38.20 percent Fibonacci retracement level of the previous upward movement. This suggests a positive sentiment and potential for further upward movement.

Elgi Equipments shares gained 2 percent at Rs 478 and formed bullish candle with long upper wick on the daily charts, indicating profit booking at higher levels. The stock has seen higher high higher low formation on the daily charts, with above average volumes.

Balrampur Chini is currently nearing its 3-month's high which tells that the stock already is in strong momentum. The stock in the latest week broke out of Inverse Head & Shoulder pattern, signaling a beginning of the trend to the upside.

Momentum indicators like RSI (relative strength index) sustaining above 60 mark on the weekly scale indicating strong positive momentum of the stock.

Chart Check: 30% since February! Should you buy, sell or hold Sonata Software?

Experts expect the momentum to continue if the stock holds the crucial support area of Rs 90

Given the decent breakout, experts expect another 5-6 percent rally from current levels, taking the price target to around Rs 420, with support around Rs 370 - Rs 380 area.

Mahanagar Gas was the star performer, rising nearly 9 percent to Rs 986 and formed robust bullish candle on the daily charts with significantly higher volumes. The stock has been making higher highs higher lows formation for fifth consecutive session, with trading above all key moving averages.

JSW Energy rebounds 19% after hitting 8-month low, Rs 250 crucial for upmove towards 200 EMA