India’s benchmark indices, Nifty and Sensex, ended sharply higher on Thursday, boosted by strong buying in banking and automobile stocks. Bulls remained at the helm as the Nifty surpassed the crucial resistance of 25,500 during the day and also closed above it.
Commenting on the day’s action, Rupak De, Senior Technical Analyst at LKP Securities said that the index has given a swing high breakout, indicating the possibility of a strong rally in the short term on the technical front. “The momentum indicator RSI is in a bullish crossover and rising. Overall, the short-term trend looks positive, with potential to move towards 25,750–25,800, while on the lower end, support is placed at 25,500,” De said.
Here are 3 stock recommendations for Friday: