Market Trading Guide: Nykaa, Infosys among 5 stock recommendations for Friday
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about 1 year ago
Indian equity benchmarks continued their southward journey for the third consecutive day after the US Fed’s hawkish stance in its policy meeting. Nifty ended with a cut of 159 points at 19,742, while Sensex shed 570 points to close at 66,230. In the last 3 sessions, indices have toppled by over 2% amid profit booking at higher levels. All sectors witnessed selling pressure, except for the media“Nifty extended its decline as the benchmark index slipped toward 19,700. The Nifty index closed below the 20 EMA, signaling diminishing bullish sentiment. Weakness is evident with a bearish crossover in the RSI. Selling on rallies remains the favored strategy as long as it stays below 20,000. On the downside, support is situated in the range of 19,700/19,630," Rupak De, Senior Technical Analyst at LKP Securities, saidHere are the stock recommendations for Friday:
Economic Times