Market Trading Guide: CG Power, Oil India are stock recommendations for Wednesday
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2 months ago
Indian benchmark indices maintained their winning momentum for the second day in a row and ended the session at record closing highs. Trading happened in a narrow range a day ahead of the U.S. Federal Reserve's widely expected interest rate cut and commentary. Nifty ended at 25,418.55, gaining by 34.80 points or 0.14% over Monday’s closing. Its 89.4-point trading range is the smallest in two weeks.A breakout from the recent range-bound pattern could provide a clear direction for the Nifty, Rupak De, LKP Securities said, placing immediate support at 25,350. A fall below this level might lead to the unwinding of put option writing positions, potentially triggering a correction toward 25,000, he warned. On the upside, resistance is seen at 25,500 and a strong upward move may be expected if Nifty breaks above this level, De said. Here are 2 stock recommendations for Wednesday:
Economic Times