Nifty fell sharply on Friday, recording its third successive decline as the Iran-Israel/US war continued to dent market sentiments. The index continued to deviate further away from the 200DMA as selling intensified.
Decoding the technical charts, Rupak De, Senior Technical Analyst at LKP Securities, said the RSI has entered the oversold zone, and the trend remains weak. He expects the markets to fall further, keeping the RSI in a deep oversold zone. “In the short term, the trend might continue to remain weak, with any rise being sold into. On the lower end, the index might fall towards 23,000 / 22,800, while on the higher end, resistance is placed at 23,400,” De said.
Here are 2 stock recommendations for Friday: