Market Trading Guide: Can Fin Homes, Pricol are 2 stock recommendations for Thursday
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over 1 year ago
Shrugging off weak global cues, the benchmark indices closed in positive territory for the fourth straight trading session on the back of gains in IT and financial shares. A day ahead of the Reserve Bank of India's monetary policy review, the 30-share BSE Sensex surged 583 points to settle at the nearly four-week high of 59,689.31. Nifty ended above 17,550 points. The RBI is expected to announce a 25 basis point rate hike in its policy announcement on Thursday before taking a pause, which is expected to be a positive for the market.“Although we believe that the market's short-term structure is strong, transitory overbought situations may cause some profit-taking at higher levels. The current resistance level for day traders would be 17,600-17,650, while the important support area would be 17,450-17,400. The uptrend would be at risk if it fell below the 17,400 level,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities.Here are stock recommendations for Thursday:
Economic Times