India’s headline indices ended in the green, breaking its four session losing streak aided by auto and bank stocks. Nifty recovered during the day as the index found support around 25,000 in the previous trading session.
Commenting on the day’s action, Rupak De, Senior Technical Analyst at LKP Securities said that Nifty is facing resistance at the 21-EMA of 25,250. “A decisive move above 25,260 in the coming sessions could lead to a rally towards 25,400 and beyond. On the other hand, a failure to sustain above 25,260 might weaken the bulls’ grip on the market. In that case, the Nifty may decline towards the support zone of 25,000 and 24,920–24,900,” De said..
Here are 2 stock recommendations for Wednesday: