Market Trading Guide: Buy Sterlite Technologies and BEL on Wednesday for near term gains up to 16%. What’s brewing?
Market Trading Guide: Buy Sterlite Technologies and BEL on Wednesday for near term gains up to 16%. What’s brewing? is drawing significant interest across the industry.
Nifty recovered from the day’s low but still ended with deep cuts on Monday amid selling pressure across the board but more prominently in financials, auto and consumer stocks. The index has slipped below the rising trendline on the daily timeframe, indicating increasing pessimism in the market. Rupak De, Senior Technical Analyst at LKP Securities said Nifty opened gap down amid weakness emerging from the Middle East and after today's sharp cuts, its RSI remains is now in a bearish crossover, confirming weak momentum. "The immediate crucial support is placed at 24,600. A decisive breakdown below this level could trigger a deeper correction in the market. On the higher side, resistance is seen at 25,000. Until the Nifty sustains above 25,000, overall sentiment is likely to remain tilted in favor of the bears," De said.Equity markets are closed today on account of the Holi holiday.Here are 2 stock recommendations for Wednesday: Stock Ideas
Experts suggest this could influence future trends and innovation in the sector.
More updates are expected as the story develops.
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