Market Trading Guide: Buy Anant Raj, RBL Bank, 6 more stocks on Wednesday for gains up to 16%
Nifty stock markets ended lower on Tuesday amid selling pressure in financials, consumer and realty stocks. On the daily chart, the Nifty has sustained below the 50EMA for eight consecutive sessions, keeping the bearish trend intact. Rupak De, Senior Technical Analyst at LKP Securities said the RSI is in a bearish crossover, indicating weak momentum. However, a closer and more granular view of the Nifty chart suggests the possibility of a meaningful recovery from current levels, he said. "On the lower timeframe, the index has started forming higher lows, which might be an early sign of a potential reversal. In the short term, the index may move higher with a potential upside towards 24,285–24,350. On the downside, support is placed at 23,880, below which weakness could intensify," De added.Here are 8 stocks to buy: Stock Ideas
Nifty stock markets ended lower on Tuesday amid selling pressure in financials, consumer and realty stocks. On the daily chart, the Nifty has sustained below the 50EMA for eight consecutive sessions, keeping the bearish trend intact. Rupak De, Senior Technical Analyst at LKP Securities said the RSI is in a bearish crossover, indicating weak momentum. However, a closer and more granular view of the Nifty chart suggests the possibility of a meaningful recovery from current levels, he said. "On the lower timeframe, the index has started forming higher lows, which might be an early sign of a potential reversal. In the short term, the index may move higher with a potential upside towards 24,285–24,350. On the downside, support is placed at 23,880, below which weakness could intensify," De added.Here are 8 stocks to buy: Stock Ideas
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