Indian benchmark indices ended in the red on Wednesday dragged by IT, metal and PSU bank stocks though private banks and auto stocks threw their weight around. While Nifty closed at 22,470.50, down by 27.40 points or 0.12%, the BSE Sensex closed at 74,029.76, declining by 72.56 points or 0.10%.
Commenting on the day’s action, Rupak De, Senior Technical Analyst at LKP Securities said that the Nifty experienced another volatile session as traders remained skeptical about the recent market recovery and chose to stay neutral ahead of the Nifty weekly expiry. “Throughout the day, the index remained above 22,300. A multiple-bottom formation is observed around 22,300, making this level a crucial short-term support. On the higher end, it faces resistance at 22,500/22,600,” De said.
Here are 5 stock recommendations for Thursday:
