Indian frontline indices ended with strong gains on Monday reacting to the ceasefire between India and Pakistan on Saturday along with a tariff truce between the US and China where both countries agreed to significantly ease their tit-for-tat tariffs for a 90-day period. While the BSE Sensex surged 2975.43 points or 3.74% to close at 82,429.90, the broader Nifty was shot-up by 916.70 points or 3.82% to end the day at 24,924.70.
Commenting on the day’s action, Rupak De, Senior Technical Analyst at LKP Securities said that the Nifty witnessed its best day in four years as multiple positive news developments triggered a risk-on sentiment.
“Technically, the index has broken out of recent consolidation across multiple timeframes, confirming a positive trend. Additionally, it continues to sustain above a crucial moving average. Going forward, any dips are likely to be bought into as long as the index remains above 24,350. On the higher end, this leg of the rally might extend towards 25,350/25,750 in the short term,” De said.
Here are 5 stock recommendations for Tuesday:
