India’s benchmark indices Nifty and Sensex broke their two-session losing streak, aided by strong buying action in financials and bank stocks. Shrugging-off two days of negativity, Nifty managed to close above the resistance zone of 25,250–25,300.
Commenting on the day’s action, Rupak De, Senior Technical Analyst at LKP Securities said that the 50-stock index appears comfortable trading above the 21-EMA (25,061), indicating a bullish trend. “In the short term, the index may move towards 25,500–25,600. On the lower end, a fall below 25,250 might trigger a short-term correction,” De said.
Here are 4 stock recommendations for Thursday: