Market Trading Guide: Gabriel India among 3 stock recommendations for Wednesday
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almost 2 years ago
Indian shares pared most of the losses in the final hour of a volatile session on Tuesday, helped by a rebound in information technology stocks, while recession worries and a surge in Covid-19 cases in China continued to dampen sentiment. All the sectors, barring information technology, oil & gas and metals declined, while auto and FMCG stocks lost more than 0.6%."Following a gap-down start, the Nifty found support at the lower side of the rising channel, leading to a recovery near the end of the session. On the hourly time frame, the momentum indicator RSI (14) is in a bullish crossover. The short-term trend will likely remain bullish until the index sustains above 18350 on a closing basis. On the lower end, support is pegged at 18350/18150,” Rupak De, Senior Technical Analyst at LKP Securities, said.
Economic Times