Trading Guide: BOB, Indian Hotels among 6 stock recommendations for Tuesday
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over 1 year ago
Weak global cues continue to dampen investor spirits in domestic markets as Sensex and Nifty slid for a seventh straight session on Monday, logging their longest losing run in the past 5 months. Concerns over aggressive rate hikes by developed economies pushed Sensex 175 points or 0.30% lower to settle at 59,288, while Nifty fell 0.42% to close below 17,400. Sector-wise, media, metal and IT stocks ended with deep cuts of up to 4%, while realty pack emerged as the top sectoral gainer, adding over 2%.“Nifty has formed a double bottom and also formed a hammer candlestick pattern on daily charts, which is broadly positive. We could see a quick pullback rally if the index trades above 17,300 and above the same the pullback move could continue till 17,500- 17,600 levels. On the flip side, a fresh round of selling is possible only after the dismissal of 17,300. Below the same, the index could slip till 17,230-17,200,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities.Here are stock recommendations for Tuesday:
Economic Times