India’s benchmark indices closed lower on Thursday, dragged down by banks and financial stocks. The Nifty showed signs of fatigue, struggling to hold on to higher levels despite multiple intraday attempts, as persistent selling pressure weighed on sentiment.
Commenting on the day’s action, SAMCO Securities said that the broader bias remains neutral to mildly bearish. “Unless the index convincingly crosses 25,600, the approach of selling on rallies remains prudent. The RSI, hovering near 59, suggests weakening bullish momentum and reinforces the current sideways sentiment. Only a breakout above 25,600 has the potential to usher in the next leg of the rally toward the 26,000 level,” this brokerage said.
Here are 2 stock recommendations for Friday:
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