Trading Guide: Route Mobile among 6 stock recommendations for Wednesday
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almost 2 years ago
Benchmark Sensex and Nifty closed marginally down in choppy trade on Tuesday, extending losses for a third straight day as investors remained cautious ahead of the release of minutes of the Federal Open Market Committee (FOMC) meeting. BSE Sensex edged down 19 points to settle at 60,672.72 as 17 of its constituents declined while 13 advanced. Negative cues from global peers dragged Nifty below 17,850.“On the hourly charts, we can observe that the key hourly moving averages placed in the zone 17920 – 17950 acted as a stiff resistance and the morning bounce fizzled out after reaching this resistance zone. On the hourly momentum indicator, we can observe a positive divergence developing, which is a sign that the selling pressure is weakening. Thus, price and momentum indicators are providing divergent signals and in such a scenario a consolidation is highly likely,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.That said, here are stock recommendations for Wednesday:
Economic Times