Market Trading Guide: Buy Shipping Corporation and this smallcap EMS stock on Thursday for up to 6% gains
Indian benchmark indices ended with cuts for the fourth day in a row amid selling pressure in auto, IT and bank stocks. Nifty has been consistently sustaining below the 21 EMA on the hourly chart, confirming a prevailing bearish trend in the near term.Commenting on the day’s action, Rupak De, Senior Technical Analyst at LKP Securities said that he expects the market is likely to remain range-bound over the next few days. “Each time the index approaches the 21 EMA, selling pressure emerges. On the lower side, the 25,000 – 25,050 zone is expected to act as a crucial support for the headline index. However, a decisive fall below 25,000 could trigger a deeper correction in the short term," De said.Here are 2 stock recommendations for Thursday: Stock Ideas
Indian benchmark indices ended with cuts for the fourth day in a row amid selling pressure in auto, IT and bank stocks. Nifty has been consistently sustaining below the 21 EMA on the hourly chart, confirming a prevailing bearish trend in the near term.Commenting on the day’s action, Rupak De, Senior Technical Analyst at LKP Securities said that he expects the market is likely to remain range-bound over the next few days. “Each time the index approaches the 21 EMA, selling pressure emerges. On the lower side, the 25,000 – 25,050 zone is expected to act as a crucial support for the headline index. However, a decisive fall below 25,000 could trigger a deeper correction in the short term," De said.Here are 2 stock recommendations for Thursday: Stock Ideas
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