India’s headline indices recovered from the day’s low to end with minor gains on Thursday, ending their two sessions losing streak. The recovery was led by index heavyweight HDFC Bank with strong support from IT stocks,
Commenting on the day’s action, Rupak De, Senior Technical Analyst at LKP Securities said that Nifty witnessed a roller-coaster session as the index oscillated between 24,350 and 24,650 although it briefly fell below 24,400, it did not sustain at lower levels and recovered smartly in the second half, closing near 24,600. “In the short term, the index may continue to recover; however, immediate resistance is seen at 24,660. A decisive move above this level could take the index towards 24,850. On the downside, support is placed at 24,400 on a closing or sustained basis,” De said.
Here are 2 stock recommendations for Friday:
