Indian benchmark indices opened higher on Thursday, with the Nifty hovering around 23,800, following a closure for the Christmas holiday. At the time of opening, the Sensex rose by 247.96 points, or 0.32 per cent, to reach 78,720.83, while the Nifty gained 68.55 points, or 0.29 per cent, to stand at 23,796.20.Market analysts attribute the subdued performance to a strong US dollar and elevated bond yields, which have led Foreign Institutional Investors (FIIs) to sell during rallies. "The relief rally witnessed yesterday is unlikely to continue in the coming days. External factors like the strong dollar and high bond yields, combined with internal challenges such as growth and earnings slowdown, will restrain a sustained rally," said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.Stock Recommendations By Kunal Kamble, Senior Technical Research Analyst At Bonanza INDIGO INDIGO has broken out of a Flag and Pole pattern on the daily timeframe, indicating a bullish continuation. The breakout is accompanied by above-average volume, reflecting strong buying interest. The price trading above key EMAs confirms the ongoing uptrend, while the RSI remains in the higher range, reinforcing the bullish sentiment. Based on this technical setup, a long position can be initiated as long as the stock holds above Rs 4,420, with potential targets in the range of Rs 5,024–Rs 5,200.Orient ElectricOrient Electric has broken out of a rounding pattern, signalling the potential for a sustained uptrend. The surge in volume highlights strong buyer interest, reinforcing the breakout's validity. The price trading above both the 50 EMA (fast-moving average) and the 100 EMA (slow-moving average) confirms bullish momentum. Based on this technical setup, a long position can be considered with a stop-loss at Rs 230 and potential targets in the range of Rs 310–Rs 350.TRIVENI TRIVENI has broken out of a Cup and Handle pattern, indicating increased buyer interest, as reflected by a steady rise in volume. The price is trading above the 50 DEMA, confirming the upward trend. After a phase of consolidation, the RSI has turned positive, supporting the bullish momentum. The DI+ trading above DI- indicates favourable strength, while the ADX above the DI lines emphasizes the robustness of this upward move. Based on this technical setup, a long position can be considered with a stop-loss at Rs 451 and potential targets in the range of Rs 575–Rs 620.Interarch Building Products LtdInterarch Building Products Ltd has broken above its resistance level and closed higher, confirming a bullish breakout. The substantial increase in volume during the breakout highlights strong buyer interest in the stock. Additionally, the price trading above all major EMAs reinforces the bullish sentiment. The RSI, positioned in the upper range, further supports the continuation of the uptrend. Based on this technical setup, a long position can be initiated in Interarch Building Products Ltd, with a stop-loss at Rs 1,749 and an upside target of Rs 2,080.Aarti Drugs LtdAarti Drugs has shown strong support near its support zone, with buyers displaying significant interest at lower levels. The increase in volume reflects the willingness of buyers to accumulate the stock at this level. The price closing above the 21 EMA signals a potential bullish trend. The RSI breakout from its falling trendline further supports the upward momentum. Considering this technical setup, a long position can be initiated in Aarti Drugs Limited, provided it holds above Rs 430, with a target price of Rs 545.