Market Trading Guide: 3 stock recommendations for Monday
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almost 2 years ago
Concerns over looming recession in the US and continuance of the hawkish stance by central banks globally weighed on Indian markets in Friday’s session. Continuing the losing run for the second straight day, indices ended lower, with Nifty tumbling to below 18,300 levels. On a weekly basis, Nifty dropped by over 1%.“Nifty spot has closed the week in red and that too below the support of 18350. There is also a negative crossover of 5 and 20 DEMA. Along with this, there is Head and Shoulder pattern breakdown on the intraday chart. Thus, this technical rationale indicates that the pessimism might continue and drag the index towards 18000-17800 in the coming week,” Mehul Kothari - AVP-Technical Research, Anand Rathi Shares & Stock Brokers, said. Here are 3 stock recommendations for Monday:
Economic Times