Indian benchmark indices relocated a limited range on Friday but got on the red, bore down by Dependence Industries (RIL), with HDFC Bank and Infosys contributing to the drag. Nifty slipped further listed below the 100 EMA mark on the day-to-day chart, confirming a deeper bearish fad.
Talking about the day’s activity, Rupak De, Elder Technical Analyst at LKP Securities said that the RSI has actually gotten in a bearish crossover, showing sustained weak point. “In the short term, the trend might remain weak, possibly dragging the Nifty in the direction of the 200 DMA positioned at 24, 071 On the lower end, assistance is positioned at 24, 400/ 24, 150, while on the greater end, resistance is seen at 24, 650 A “market on rise” approach remains more suitable as long as the index remains listed below 24, 850,” De claimed.
Here are 2 stock recommendations for Monday: