Market Trading Guide: Buy Piramal Finance, JBM Auto & 4 more stocks on Wednesday for gains up to 20%
Nifty ended lower on Tuesday amid significant selling pressure in banks, auto and IT stocks. Momentum indicator RSI is in a bearish crossover, indicating declining price momentum. Rupak De, Senior Technical Analyst at LKP Securities said Nifty got entangled within the bands of 20EMA and 50EMA, and said he sees now that the market is waiting for cues for the next directional move. "The market does not appear convinced enough to move beyond a particular range. On the other hand, on the lower end, support is placed at 23,950; a decisive fall below this level might trigger a correction in the market. Resistance on the higher end, is placed at 24200, above which the Nifty might witness a directional up move," De said.Here are 6 stocks to buy: Stock Ideas
Nifty ended lower on Tuesday amid significant selling pressure in banks, auto and IT stocks. Momentum indicator RSI is in a bearish crossover, indicating declining price momentum. Rupak De, Senior Technical Analyst at LKP Securities said Nifty got entangled within the bands of 20EMA and 50EMA, and said he sees now that the market is waiting for cues for the next directional move. "The market does not appear convinced enough to move beyond a particular range. On the other hand, on the lower end, support is placed at 23,950; a decisive fall below this level might trigger a correction in the market. Resistance on the higher end, is placed at 24200, above which the Nifty might witness a directional up move," De said.Here are 6 stocks to buy: Stock Ideas
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