Trading Guide: Coromandel International among 4 stock recommendations for Tuesday
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over 1 year ago
Benchmark indices Sensex and Nifty declined for a third day on the trot to close at five-month low levels on Monday due to a massive sell-off in banking, finance and auto stocks, mirroring weak global sentiments. Potential contagion from the biggest bank failure in the US since 2008 led Nifty to drop to 17,150 levels, while Sensex ended around 900 points lower at 58,237 points. Alongside, the fear index zoomed a hefty 21%.“Nifty has been in a sharp downturn and the negative chart pattern like lower tops and bottoms are in store. Present weakness seems to be in line with the lower bottom formation, but there is no confirmation of any lower bottom reversal pattern yet at the lows. The next downside levels to be watched are around 17,000-16,800 in the near term. Any upside bounce from here could find strong resistance around 17,300-17,350 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.Here are stock recommendations for Tuesday
Economic Times