The Indian frontline indices ended on a strong note on Wednesday hours before the onset of Trump’s reciprocal tariffs. Buying action was seen across most sectors but more prominent in banks, IT and auto stocks. The BSE Sensex fell by 592.93 points or 0.78% to 76,617.44, while the Nifty declined 166.65 points or 0.72% to end the day at 23,332.35.
Commenting on the day’s action, Rupak De, Senior Technical Analyst at LKP Securities said that Nifty appears to be finding support around the critical 50 EMA on the daily timeframe following the recent correction. Additionally, the index has been holding above the falling trendline breakout point and a bullish Harami candlestick pattern has formed on the daily chart, suggesting a potential price recovery in the short term, he said.
“On the lower end, 23,100 might remain a strong support level in the short term, below which weakness could increase. On the other hand, sustaining above 23,100 might provide momentum for a rally toward 23,800,” De said.
Here are 5 stock recommendations for Thursday:
