Indian frontline indices ended their two-session gaining streak on Friday amid selling pressure in IT and bank stocks. While the S&P BSE Sensex settled at 76,619.33, declining by 423.49 points, or 0.55%, the broader Nifty closed at 23,203.20, down by 108.60 points, or 0.47%.
Commenting on the day’s action, Rupak De, Senior Technical Analyst at LKP Securities, highlighted Nifty’s continued presence in the bearish zone. “Sentiment remains weak as the index declined after encountering resistance at a crucial moving average. This bearish sentiment may persist in the short term, or as long as the index remains below 23,400. On the downside, it could drift toward 23,000. A decisive break below 23,000 might trigger a broader market correction. Conversely, 23,400 is likely to remain a strong resistance level,” De said.
Here are 4 stock recommendations for Monday:
