Benchmark index Nifty snapped its four-day winning streak on Wednesday, ending lower amid weakness in auto, pharma, and banking stocks. Markets traded sideways on Wednesday, taking a breather after the recent surge and charts suggest further consolidation.
Commenting on the current trends, Ajit Mishra, Senior Vice President – Research at Religare Broking, said that he sees the Nifty bias remaining positive despite today’s losses. “We continue to maintain a buy-on-dips strategy and recommend focusing on opportunities with a favorable risk-reward setup, particularly within sectors showing consistent relative strength such as auto, metals, and PSUs, while remaining selective in others,” Mishra said.
Here are 2 stock recommendations for Thursday: