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Indian markets ended lower on Friday amid US tariff worries, dragging IT and auto stocks. Despite optimism around domestic GDP and FII inflows, Nifty showed weakness. Global cues remained mixed, while select stocks like BSE and Suzlon saw strong activity and interest.
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News and Media
Indian markets fell on Friday dragged by IT, auto and metal stocks. Nifty witnessed a volatile session even as the momentum continues to remain weak. The index traded volatile with a slightly negative bias on the first day of the June series. Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities said that the index has formed a bearish moving average crossover on the smaller time frame. The RSI on the hourly chart indicates bearish price momentum, suggesting short-term weakness. Additionally, signs of exhaustion are visible on the daily RSI, accompanied by a strong negative divergence. Immediate support is placed at 24,700 and a breach below this level could lead to a decline towards 24,500. On the higher side, 24,800 is likely to act as a crucial resistance, as call writers have built significant positions at that level."Here are 2 stock recommendations for Monday:
Category:
News and Media
The Indian market failed to hold the momentum and closed in the red on Friday. The BSE Sensex fell nearly 200 points while the Nifty50 closed below 24,800 levels.
Category:
News and Media
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