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Market Trading Guide: Tata Tech,Nazara Techamong 5 stock recommendations forWednesday for gains up to 22%
Nifty ended lower on Tuesday dragged by financials and consumer stocks though strong buying action in IT stocks lifted the mood. Rupak De, Senior Technical Analyst at LKP Securities said overall sentiment is likely to remain tilted in favour of the bears in the short term. "The 23,800 zone continues to act as a crucial resistance level, and unless the index decisively moves above it, sellers may regain control at any point. On the downside, immediate support is placed at 23400, below which selling pressure could intensify further. On the upside, the index faced resistance near the 20 EMA, which triggered profit booking in the latter half of the session. The hourly RSI remains in a bearish crossover and continues to trend lower, indicating weakening momentum."Here are 5 stocks to buy: Stock Ideas
Nifty ended lower on Tuesday dragged by financials and consumer stocks though strong buying action in IT stocks lifted the mood. Rupak De, Senior Technical Analyst at LKP Securities said overall sentiment is likely to remain tilted in favour of the bears in the short term. "The 23,800 zone continues to act as a crucial resistance level, and unless the index decisively moves above it, sellers may regain control at any point. On the downside, immediate support is placed at 23400, below which selling pressure could intensify further. On the upside, the index faced resistance near the 20 EMA, which triggered profit booking in the latter half of the session. The hourly RSI remains in a bearish crossover and continues to trend lower, indicating weakening momentum."Here are 5 stocks to buy: Stock Ideas
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