Indian headline indices ended with gains on Wednesday recording their third successive positive closing propelled by IT and FMCG stocks. The Nifty witnessed a largely positive session, closing above the 25,000 mark.
Commenting on the day’s action, Rupak De, Senior Technical Analyst at LKP Securities said that the sentiment is likely to favor the bulls as the index has sustained above the 21 EMA for the past three sessions. “Additionally, Put writers have outnumbered Call writers for the first time in several days. The Nifty is expected to remain a “buy on dips” as long as it holds above 24,800. On the higher side, resistance is placed at 25,250, above which the index may extend its gains towards 25,500,” he said.,” De said.
Here are 3 stock recommendations for Thursday:
