India’s benchmark index Nifty logged its second consecutive day of gains on Friday, driven by robust buying in pharma stocks, with banking and auto sectors providing additional support. The 50-stock index remained strong today as it broke out of the recent consolidation range.
Commenting on the current trends, Rupak De, Senior Technical Analyst at LKP Securities, said that the trend continues to stay positive as it is sustaining above the critical moving average. The setup looks favorable for a further rise in the short term.
“Any dip would provide a good opportunity to enter long trades. On the higher end, the Nifty may move towards 25,500–25,550, while on the lower end, support is placed at 25,150. A fall below 25,150 could weaken the trend slightly,” De said.
Here are 4 stock recommendations for Monday: