Indian markets ended with strong gains on Friday aided by buying action in IT and FMCG stocks. The index has moved higher after finding support at the 21-day EMA and broadly speaking, the Nifty appears to be consolidating within the range of 24,700–25,000.
Commenting on the day’s action, Rupak De, Senior Technical Analyst at LKP Securities, said that the short-term trend remains positive, with momentum likely to strengthen above 25,000. “A decisive breakout above this level could give the bulls an upper hand and potentially trigger a rally towards 25,250–25,350. On the downside, the index has support at 24,700; a break below this level could attract bearish bets,” De said
Here are 5 stock recommendations for Monday:
