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Market Trading Guide: Balrampur Chini, OneSource among 5 stocks for gains up to 11% on Wednesday
Nifty ended with deep cuts on Tuesday, extending its losing streak for the fourth day in a row amid significant selling across the board but more prominently in IT, banks, auto and consumer stocksCommenting on the technical trends, Rupak De, Senior Technical Analyst at LKP Securities, said the index has continued to decline as bears tighten their grip on the Indian market. Nifty has further broken away from its recent consolidation range, indicating rising weakness in the trend. "The RSI continues to remain in a bearish crossover and is trending lower, reflecting sustained negative momentum. Overall sentiment appears extremely bearish, with the potential to drag the index towards 23,200–23,150 in the near term, from where a meaningful recovery might come. On the higher side, resistance is placed at 23,600, above which sentiment might improve," De said.Here are 5 stocks to buy: Stock Ideas
Nifty ended with deep cuts on Tuesday, extending its losing streak for the fourth day in a row amid significant selling across the board but more prominently in IT, banks, auto and consumer stocksCommenting on the technical trends, Rupak De, Senior Technical Analyst at LKP Securities, said the index has continued to decline as bears tighten their grip on the Indian market. Nifty has further broken away from its recent consolidation range, indicating rising weakness in the trend. "The RSI continues to remain in a bearish crossover and is trending lower, reflecting sustained negative momentum. Overall sentiment appears extremely bearish, with the potential to drag the index towards 23,200–23,150 in the near term, from where a meaningful recovery might come. On the higher side, resistance is placed at 23,600, above which sentiment might improve," De said.Here are 5 stocks to buy: Stock Ideas
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