India’s benchmark index Nifty ended Diwali trade on a strong note, powered by a stellar show from index heavyweight Reliance Industries (RIL). It scaled a fresh 52-week highs in today’s session. The market started with a gap-up and remained volatile throughout the day.
Commenting on the day’s action, Rupak De, Senior Technical Analyst at LKP Securities, said that though Nifty touched a high of 25,926, there was some profit-taking at higher levels. The overall sentiment is likely to remain strong, with the potential to reach 26,000–26,200 in the short term. “The technical setup remains positive as long as the index stays above 25,700, below which it may move back into consolidation,” De added.
Here are 2 stock recommendations for Tuesday: